* Late Appeal Filing Is Jurisdictional, Third Circuit Holds* What Happens to Courts if the Federal Government Closes?

* Small Firms Survive But Face Challenges in Obtaining Loans* Liquidity-Stress Index for Junk Companies Improves* Kamakura Troubled Company Index Declined to 5.47% in March

* Jones Day Adds Kirkland Product Liability Partner* Berman Named President of the American Bankruptcy Institute* KCC Names Michael Frishberg as EVP of Corp. Restructuring* Garden City Group Promotes Greg Haber to National Director

4KIDS ENTERTAINMENT: Files for Ch. 11 Due to Yu-Gi-Oh! Dispute--------------------------------------------------------------4Kids Entertainment Inc. and a number of affiliates sought Chapter11 bankruptcy protection (Bankr. S.D.N.Y. Lead Case No. 11-11607)in Manhattan on April 6, 2011.

In documents filed with the bankruptcy court, the Debtorsdisclosed total assets of $23.4 million and debt of $16.5 millionas of March 31.

The bankruptcy filing in the U.S. Bankruptcy Court for theSouthern District of New York also covers all of the domesticwholly-owned 4Kids subsidiaries. 4Kids EntertainmentInternational, Ltd., the Company's subsidiary based in LondonEngland, is not part of the bankruptcy filing.

4Kids Entertainment is a children's entertainment and merchandiselicensing organization. Through its affiliates, 4Kids producesanimated television series and films. The company also programsand sells national advertising time in "TheCW4Kids," which airsnationally on The CW Network on Saturday mornings. The parententity, 4Kids Entertainment, was organized as a New Yorkcorporation in 1970.

4Kids has three business segments: (i) licensing, (ii) advertisingand media broadcast, and (iii) television and film production/distribution. The licensing segment accounted for 83% of 4Kids'consolidated net revenues for the year ended Dec. 31, 2010.

Bruce R. Foster, executive vice president and chief financialofficer of 4Kids, said in a declaration in support of the "firstday" motions that the principal driver for filing the Chapter 11cases is the need to protect 4Kids' most valuable asset -- itsrights under an exclusive license relating to the popular Yu-Gi-Oh! ("YGO") series of animated television programs -- from effortsby the licensor, a consortium of Japanese companies, to wrongfullyterminate the license and force 4Kids out of business.

The terms of the license are set forth in the Amended and RestatedYu-Gi-Oh! Agreement, by and among Television Tokyo Channel 12,Ltd. 4 and Nihon Ad Systems, Inc. c/o Asatsu-DK Inc. ("ADK"), aslicensors, and 4Kids Entertainment, as licensee. During 2010, ADKconducted an audit of the books and records of 4Kids. ADK'sauditor made a preliminary and, according to Mr. Foster,unsubstantiated determination that 4Kids owes ADK roughly$4.8 million under the YGO license.

4Kids vigorously disputes ADK's audit claims. On March 17, 2011,in response to ADK's demand for "a seven-figure sum", 4Kids wired$1 million to ADK as a good faith effort to facilitate asettlement of the audit dispute, while reserving its position thatADK was not entitled to that amount. The parties, however, failedto resolve the dispute following a series of meetings in March.

On March 25, 2011, ADK sent a letter to 4Kids purporting toterminate the YGO license on the grounds that the audit claims hadnot been resolved to ADK's satisfaction. On March 25, ADK alsofiled suit against 4Kids in the United States District Court forthe Southern District of New York, TV Tokyo Corp. v. 4KidsEntertainment, Inc., No. 11 CV 2069 (Holwell, J.).

Accordingly, 4Kids has sought Chapter 11 protection to stop thetermination of YGO license and stay the lawsuit "designed tofurther injure the business and reputation" of 4Kids.

The 4Kids bankruptcy filing, according to a statement by theCompany, automatically "stays" the lawsuit filed by the licensorsof the Yu-Gi-Oh! property, Asatsu-DK Inc and TV Tokyo Corporation,on March 24, 2011, against 4Kids, until such time as the Court mayorder otherwise.

"We have made every effort to reach agreement with the Licensors,"said Michael Goldstein, interim Chairman of 4Kids Entertainment,Inc. "When the Company did not receive a positive response fromLicensors to its settlement proposal, the Board of Directors wasleft with little choice but to authorize the filing of abankruptcy petition under Chapter 11 in order to best preserve thebusiness and assets of 4Kids Entertainment. We continue to believethat the purported termination of the Yu-Gi-Oh! Agreement waswrongful and that 4Kids' assessment of the audit claims will bevindicated in court. If the Court rules in favor of the Company,4Kids will pursue the full measure of damages for the significantinjury the Licensors have caused to the business of 4Kids,"concluded Goldstein.

The Debtor estimates that -- excluding professional fees -- cashreceipts will total $1,157,061 and disbursements will total$1,695,413 for the 30-day period following the Petition Date.

Business As Usual

In conjunction with the Chapter 11 filing, 4Kids also filed avariety of first day motions that will allow the Company tocontinue to manage operations in the ordinary course.

"We want to assure our clients, business partners and licenseesthat during the pendency of the bankruptcy, 4Kids will continue toprovide the same level of service and dedication that it has inthe past," said Mr. Goldstein. "The Company will also continue toexplore its strategic alternatives, including, the possible saleof the business or reorganization as a stronger and more focusedcompany,".

4Kids is represented in its bankruptcy filing by its long standingoutside counsel, Kaye Scholer LLP.

4KIDS ENTERTAINMENT: Posts $31.6 Million Net Loss in 2010---------------------------------------------------------4Kids Entertainment, Inc., filed on March 31, 2011, its annualreport on Form 10-K for the fiscal year ended Dec. 31, 2010.

EisnerAmper LLP, in New York, expressed substantial doubt about4Kids Entertainment's ability to continue as a going concern. Theindependent auditors noted that in recent years the Company hasincurred substantial operating losses and used substantial amountsof cash in its operating activities and experienced limitedliquidity available to fund its operations. "In addition, theCompany received a letter from a licensor purporting to terminateits license for a property under which the Company generates asignificant portion of its revenue."

On March 24, 2011, the Company received a letter from Asatsu-DKInc ("ADK") on behalf of itself and TV Tokyo Corporationpurporting to terminate the agreement dated July 1, 2008, betweenthe Licensors and the Company with respect to the Yu-Gi-Oh!Property, which accounted for approximately 36% of the Company'snet revenue for the year ended Dec. 31, 2010, for alleged breachesof the Yu-Gi-Oh! Agreement by the Company. On March 24, 2011, theLicensors filed a lawsuit against the Company in the United StatesDistrict Court for the Southern District of New York also claimingthat the Company has breached the Yu-Gi-Oh! Agreement and seekingmore than $4,700,000 in damages.

"If the Company's continued attempts to resolve the dispute withthe Licensors are unsuccessful, the Company intends to take allactions it deems necessary to preserve its business and assets,including the potential filing of a petition under Chapter 11 ofthe United States Bankruptcy Code," 4Kids said in the filing.

The Company reported a net loss of $31.6 million on $14.5 millionof revenues for 2010, compared with a net loss of $52.5 million on$34.2 million of revenues for 2009.

At Dec. 31, 2010, the Company's balance sheet showed $29.1 millionin total assets, $18.8 million in total liabilities, andstockholders' equity of $10.3 million.

With U.S. headquarters in New York City, and international officesin London, 4Kids Entertainment, Inc. (Pink Sheets: KIDE)-- http://www.4KidsEntertainment.com/-- is a global organization devoted to the creation, development, production, broadcasting,distribution, licensing and manufacturing of children'sentertainment products.

ADINO ENERGY: Swings to $277,802 Net Loss in 2010-------------------------------------------------Adino Energy Corporation filed with the U.S. Securities andExchange Commission its annual report on Form 10-K, reporting anet loss of $277,802 on $2.00 million of total revenues for theyear ended Dec. 31, 2010, compared with net income of $23,029 on$2.18 million of total revenues during the prior year.

The Company's balance sheet at Dec. 31, 2010, showed $3.74 millionin total assets, $6.24 million in total liabilities, and a$2.50 million shareholders' deficit.

M&K CPAS, PLLC, in Houston, Texas, expressed substantial doubtabout the Company's ability to continue as a going concern,following the 2010 financial results. The independent auditorsnoted that the Company has suffered recurring losses fromoperations and maintains a working capital deficit.

"We base the upgrade on the company's strong earnings and debtreduction, as well as our expectation of ACT's continued solidprofitability and moderate use of debt as it continues toacquire," said Standard & Poor's credit analyst Donald Marleau.

The ratings on ACT reflect Standard & Poor's view of the company'sposition as a leader in the fragmented and highly competitiveNorth American convenience store (c-store) industry, its solidprofitability, and its investment-grade financial risk profile."On the other hand, we expect that the company could periodicallyboost leverage as it grows through acquisitions, which could becompounded by some earnings instability associated with volatilegasoline prices," S&P related.

ACT is the second-largest independent c-store operator in NorthAmerica with about 5,900 locations, although this accounts forless than 4% of the industry's stores. The industry is highlyfragmented and has low barriers to entry, but ACT enjoys one ofthe strongest positions, enhanced by the brand equity of itsbanners, the quality of its real estate, and efficienciesstemming from the breadth of its operations. The company'srelatively attractive position, solid merchandising, and proventrack record of evaluating and integrating acquisitions allcontribute to returns on capital that rank among the highest forfood retailers in North America.

"The stable outlook reflects our view that ACT's strong marketposition in North America, efficient operation, and moderate useof debt will likely protect the company from margin pressure inthis highly competitive industry. In turn, we believe this shouldenable the company to sustain investment-grade credit measurescharacterized by fully adjusted debt to EBITDA of 2.5x-3.0x,funds from operations to debt of more than 25%, and EBITDAinterest coverage of more than 5.0x. As such, we believemanagement's financial discipline in growing by acquisition willbe a key determinant in maintaining the investment-grade rating.ACT has some latitude at the current rating to increase leveragefor an acquisition, but we believe that negative rating pressurewould emerge if a transaction caused fully adjusted debt to EBITDAto exceed 3.5x with risky prospects for a return to below 3.0x.Moreover, the ratings would be under pressure if increasedcompetition caused weaker earnings, particularly from merchandiseand services, thereby increasing debt to EBITDA to more than 3.0x.We believe that such a scenario would be driven by a drop inaggregate gross margins of about 100 basis points from 15% atcurrent fuel prices, or about a 300 basis points deterioration ofits 33% merchandise and services gross margin," according to S&P.

ALION SCIENCE: Moody's Affirms 'Caa1' Corporate Family Rating-------------------------------------------------------------Moody's Investors Service has affirmed the corporate familyand probability of default ratings of Alion Science andTechnology Corporation at Caa1. The existing senior securedrevolving credit facility and senior unsecured note ratingsremain unchanged at B1 and Caa2, respectively. The ratingon the senior secured notes has been lowered one notch toB2 from B1 due to the recent increase in the size of therevolving credit facility from $25 million to $35 million.The revolver is ranked ahead of the secured notes in Moody'spriority of claims waterfall due to its first-out positionin the capital structure. The rating outlook remains stable.

The affirmation of the Caa1 corporate family ratingreflects the company's continued high leverage and weakinterest coverage balanced against Alion's healthy backlogand adequate liquidity profile. Moody's also notes thatalthough the Department of Defense announced spending cuts,due to Alion's focus on highly sophisticated scientific andengineering research services, the effect of these cuts onAlion are likely to not be as significant as other companiesin the aerospace & defense sector. Nevertheless, the companyis not expected to be immune to changes in the defense budgetsuch as contract funding delays. Over the intermediate term,credit metrics are expected to remain within the Caa1 ratingcategory. Also similar to other aerospace & defense industrypeers, in the longer-term growth opportunities in the area ofcyber security and healthcare IT should bode well for the companyhowever the positive impact of these opportunities is not expectedto be meaningful in the intermediate term.

The stable rating outlook encompasses credit metrics expected toremain in line with a Caa1 rating over the intermediate termcombined with an adequate liquidity position expected over thenext twelve months.

The SGL-3 speculative grade liquidity encompasses anexpectation of positive free cash flow generation over thenext twelve months, access to the company's undrawn $35 millionrevolving credit facility since inception last year and adequatecovenant compliance. The increased revolver size as well asthe increase in the capacity to issue letters of credit from$10 million to $35 million support the future growth of thebusiness and is a positive liquidity event. Moody's also notesthat the company's credit agreement contains a covenant tiedto adjusted EBITDA levels. The minimum EBITDA test steps-up,incrementally, from $52.5 million though March 31, 2011 to$65 million after September 30, 2013. In order to remain incompliance over the next twelve months, the company's EBITDAdoes not have room for any meaningful deterioration and EBITDAlevels must improve into 2012-2013.

Positive rating momentum would develop with an expectation thatAlion may achieve a debt to EBITDA level approaching 6.0 timeswith EBITDA to interest approaching the high 1.0 times range. Anexpectation of a sustained liquidity profile adequacy would alsoaccompany upward rating momentum. Ongoing high, internal revenuegrowth would be needed before the possibility of positive ratingmomentum would develop.

Negative rating momentum would develop if the likelihood offinancial covenant compliance were to come into question, ifthe company were to begin relying on its revolver other thanfor light, temporary working capital needs, or there were anysustained deterioration in leverage and interest coverage metrics.

The principal methodologies used in this rating were GlobalAerospace and Defense published in June 2010, and Loss GivenDefault for Speculative-Grade Non-Financial Companies in the U.S.,Canada and EMEA published in June 2009.

The last rating action was on March 5, 2010 when Moody's assigneda B1 rating to Alion's proposed senior secured facilities.

Alion Science and Technology Corporation is an employee-ownedcompany that provides scientific research, development, andengineering services related to national defense, homelandsecurity, and energy and environmental analysis. Particular areasof expertise include naval architecture and engineering, defenseoperations, modeling and simulation, technology integration,information technology and wireless communications, energy andenvironmental services. Revenue in the last twelve month periodended December 31, 2010 was approximately $829 million.

AMBAC FIN'L: Directors Disclose Ownership Common Stock------------------------------------------------------Two officers of Ambac Financial Group, Inc. informed the U.S.Securities and Exchange Commission that they separately disposedof shares of the Company's common stock within the period fromfrom March 22 to 30, 2011:

Mr. Wallis is the president and chief executive officer of AFG.Mr. Trick is AFG's senior managing director.

About Ambac Financial

Ambac Financial Group, Inc., headquartered in New York City, is aholding company whose affiliates provided financial guarantees andfinancial services to clients in both the public and privatesectors around the world.

Ambac Financial filed a voluntary petition for relief underChapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No.10-15973) in Manhattan on Nov. 8, 2010. Ambac said it willcontinue to operate in the ordinary course of business as "debtor-in-possession" under the jurisdiction of the Bankruptcy Court andin accordance with the applicable provisions of the BankruptcyCode and the orders of the Bankruptcy Court.

Ambac's bond insurance unit, Ambac Assurance Corp., did not filefor bankruptcy. AAC is being restructured by state regulators inWisconsin. AAC is domiciled in Wisconsin and regulated by theOffice of the Commissioner of Insurance of the State of Wisconsin.The parent company is not regulated by the OCI.

Ambac's consolidated balance sheet -- which includes non-debtorAmbac Assurance Corp -- showed $30.05 billion in total assets,$31.47 billion in total liabilities, and a $1.42 billionstockholders' deficit, at June 30, 2010.

On an unconsolidated basis, Ambac said in a court filing thatit has assets of ($394.5 million) and total liabilities of$1.6826 billion as of June 30, 2010.

Bank of New York Mellon Corp., as trustee to seven different typesof notes, is listed as the largest unsecured creditor, with claimstotaling about $1.62 billion.

AMBAC FIN'L: AAC Expects to Start Plan Payments Next Month----------------------------------------------------------Ambac Assurance Corporation announced on March 18, 2011, thatbased on conversations with the Special Deputy Commissioner forthe Segregated Account of Ambac Assurance Corporation, itcurrently expects the Segregated Account to begin payment ofpolicy claims in May 2011. The effectiveness of the AAC Plan ofRehabilitation and the commencement of policy claim payments aresubject to the terms of, and the satisfaction of the conditionsset forth in, the Plan; and there can be no assurances as to whenpolicy claim payments will be made.

Ambac Assurance is a guarantor of public finance and structuredfinance obligations. It is the principal operating subsidiary ofAmbac Financial Group, Inc. It currently has a Caa2 rating fromMoody's Investors Service, Inc.

Ambac Financial, headquartered in New York City, is a holdingcompany whose affiliates provided financial guarantees andfinancial services to clients in both the public and privatesectors around the world.

About Ambac Financial

Ambac Financial Group, Inc., headquartered in New York City, is aholding company whose affiliates provided financial guarantees andfinancial services to clients in both the public and privatesectors around the world.

Ambac Financial filed a voluntary petition for relief underChapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No.10-15973) in Manhattan on Nov. 8, 2010. Ambac said it willcontinue to operate in the ordinary course of business as "debtor-in-possession" under the jurisdiction of the Bankruptcy Court andin accordance with the applicable provisions of the BankruptcyCode and the orders of the Bankruptcy Court.

Ambac's bond insurance unit, Ambac Assurance Corp., did not filefor bankruptcy. AAC is being restructured by state regulators inWisconsin. AAC is domiciled in Wisconsin and regulated by theOffice of the Commissioner of Insurance of the State of Wisconsin.The parent company is not regulated by the OCI.

Ambac's consolidated balance sheet -- which includes non-debtorAmbac Assurance Corp -- showed $30.05 billion in total assets,$31.47 billion in total liabilities, and a $1.42 billionstockholders' deficit, at June 30, 2010.

On an unconsolidated basis, Ambac said in a court filing thatit has assets of ($394.5 million) and total liabilities of$1.6826 billion as of June 30, 2010.

Bank of New York Mellon Corp., as trustee to seven different typesof notes, is listed as the largest unsecured creditor, with claimstotaling about $1.62 billion.

AMBASSADORS INT'L: Obtains Interim Okay of $5 Million Loan----------------------------------------------------------Bill Rochelle, Bloomberg News' bankruptcy columnist, reports thatAmbassadors International, Inc., which operates as WindstarCruises, obtained interim approval April 5 from a bankruptcy judgein Delaware for its $5 million secured loan. A final financinghearing is set for April 26, wherein the loan is slated forincrease to $10 million of new money. The final loan will alsoconvert about $9.6 million from a pre-bankruptcy working capitalloan into a post-bankruptcy financing.

As reported in the April 6, 2011 edition of the Troubled CompanyReporter, the Debtors are seeking approval from the BankruptcyCourt to obtain financing from funds related to WhippoorwillAssociates Inc. and certain noteholders. The Company has acontract to sell its business for $40 million to Whippoorwill,subject to bankruptcy court approval. Law Debenture Trust Companyof New York is the administrative and collateral agent for the DIPfinancing.

Daniel J. DeFranceschi, Esq., at Richards, Layton & Finger, P.A.,explains the DIP Lenders have committed to provide an interimamount of $5 million and a final amount of (i) $10 million lessany amounts advanced under the interim court order as interim newmoney DIP loans, and (ii) a roll-up of all outstanding prepetitionworking capital facility obligations into the DIP Facility. Acopy of the DIP credit agreement is available for free at:

All commitments of the DIP Lenders will terminate on the earliestof (i) the date that is 120 days after the Petition Date; (ii) 25days following the Petition Date, if the final court order has notbeen entered by that date; and (c) the date on the maturity of theobligations under the DIP Facility is accelerated and thecommitments under the DIP Facility are irrevocably terminated inaccordance with the DIP credit agreement.

The Debtors' ability to draw on the DIP Facility is subject to,among other things, the Debtors' compliance with these milestones:

(i) the Court will have entered by no later than 15 days following the Petition Date an order approving the bid protections, auction process and sale procedures for a sale of all or substantially all of the assets under Section 363 of the Bankruptcy Code.

(ii) the Court will have entered a sale order no later than 40 days following the Petition Date; and

(iii) (A) with respect to a sale to Whippoorwill, the Debtors will consummate and close an approved sale consistent with the Sale Order not later than 45 days after the Petition Date the, and (B) with respect to a sale to any other party, the date that is 10 days after the expiration of the sale period.

All obligations under the DIP Facility will be secured by aperfected lien on and security interests in all of the real,personal and mixed property of the Debtors. The DIP Lenders willhave claims entitled to the benefits of Section 364(c)(1) of theU.S. Bankruptcy Code, having superpriority over any and alladministrative expenses. The DIP facility will incur interest at12% per annum. In the event of default, the Debtors will pay adefault rate of interest at 14% per annum. Upon the closing, theDIP Lenders will be paid a commitment fee of $200,000. The DIPlien is subject to a carve-out for U.S. Trustee and Clerk of Courtfees; fees payable to professional employed in the Debtors' case;and up to $25,000 in fees of the committee in pursuing actionschallenging the DIP Lenders' lien.

Cash Collateral Use

The Debtors also sought for authorization from the Court to usetheir prepetition lenders' cash collateral.

The Debtors owe $9.575 million from a working capital facilityprovided by Whippoorwill in March 2010. Pursuant to a credit andguaranty agreement, dated as of March 23, 2010, the debt issecured on a first priority basis by substantially all the assetsof the Debtors. The Debtors also owe $19.7 million on convertiblenotes, which are secured by liens second in priority to the lienssecuring the prepetition credit facility. Wilmington Trust FSB isthe trustee for the second lien notes. Law Debenture New York isthe agent under the prepetition working capital facility.

As adequate protection for the use of, and for any diminution inthe value of, collateral securing the Prepetition Working CapitalFacility and the second lien notes, the prepetition securedparties will be granted replacement liens and superpriorityclaims, in each case, of the same relative priority as enjoyedunder the Second Lien Notes and the Prepetition Working CapitalFacility, to the extent of the postpetition diminution in value oftheir respective prepetition collateral, subject, in each case, tothe Carve-Out and the DIP Superpriority Claims.

As additional adequate protection, the Prepetition Agent, thePrepetition Lenders and the Second Lien Trustee will receivepayments in cash on a current basis of all reasonable fees, costsand expenses of their professionals arising in connection with theChapter 11 cases. The DIP Agent, the Prepetition Agent and theSecond Lien Trustee will also have the right to credit bid theirclaims in any sale of the Debtors' assets.

About Ambassadors International

Headquarters in Seattle, Washington, Ambassadors International,Inc. (NASDAQ: AMIE) -- http://www.ambassadors.com/-- operates Windstar Cruises, a three-ship fleet of luxury yachts that explorethe hidden harbors and secluded coves of the world's most sought-after destinations. Carrying 148 to 312 guests, the luxuriousships of Windstar cruise to nearly 50 nations, calling at 100ports throughout Europe, the Caribbean and the Americas.

The Debtors disclosed $86.4 million in total assets and$87.3 million in total debts as of Dec. 31, 2010.

AMBASSADORS INT'L: Organizational Meeting Set for April 11----------------------------------------------------------Roberta A. DeAngelis, United States Trustee for Region 3, willhold an organizational meeting on April 11, 2011, at 1:30 p.m. inthe bankruptcy case of Ambassadors International Inc., et al. Themeeting will be held at J. Caleb Boggs Federal Building, 844 KingStreet, Room 5209, Wilmington, Delaware.

The sole purpose of the meeting will be to form a committee orcommittees of unsecured creditors in the Debtors' cases.

The organizational meeting is not the meeting of creditorspursuant to Section 341 of the Bankruptcy Code. A representativeof the Debtor, however, may attend the Organizational Meeting, andprovide background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section1102 of the Bankruptcy Code requires that the United StatesTrustee appoint a committee of unsecured creditors as soon aspracticable. The Committee ordinarily consists of the persons,willing to serve, that hold the seven largest unsecured claimsagainst the debtor of the kinds represented on the committee.Section 1103 of the Bankruptcy Code provides that the Committeemay consult with the debtor, investigate the debtor and itsbusiness operations and participate in the formulation of a planof reorganization. The Committee may also perform other servicesas are in the interests of the unsecured creditors whom itrepresents.

About Ambassadors International

Headquarters in Seattle, Washington, Ambassadors International,Inc. (NASDAQ: AMIE) -- http://www.ambassadors.com/-- operates Windstar Cruises, a three-ship fleet of luxury yachts that explorethe hidden harbors and secluded coves of the world's most sought-after destinations. Carrying 148 to 312 guests, the luxuriousships of Windstar cruise to nearly 50 nations, calling at 100ports throughout Europe, the Caribbean and the Americas.

The Debtors disclosed $86.4 million in total assets and$87.3 million in total debts as of Dec. 31, 2010.

AMBASSADORS INT'L: Sale Process Proceeding as Planned-----------------------------------------------------Ambassadors International, Inc., announced on April 6, 2011, thatWindstar Cruises' luxury yachts are sailing as scheduled and allWindstar fares and reservations, including charter contracts, arebeing honored. At a hearing April 5, 2011, the U.S. BankruptcyCourt for the District of Delaware granted permission for Windstarand Ambassadors, among other things, to:

-- maintain all of Windstar's customer programs and policies and honor all Windstar fares and reservations, including charter contracts;

-- provide commissions and payments to travel partners as usual; and

-- pay employees and crewmembers in the usual manner and to continue their benefits without disruption.

The approval of these requests by Ambassadors helps ensure thatWindstar will continue normal operations as it moves forwardthrough the previously announced process of selling Windstar andsubstantially all of Ambassadors' other assets. Ambassadorscontinues to expect that all Windstar vendors and suppliers forgoods and services received both before and during thereorganization process will be paid in connection with the sale.

The Court also granted interim approval of the company's debtor-in-possession financing (DIP) facility. The court's approvalauthorizes Ambassadors and Windstar to access $5 million of newworking capital financing on an interim basis, which can be usedto help support Ambassadors' and Windstar's continuing operationsand will provide liquidity during the sale process. A hearing forfinal approval of the DIP financing facility and access to thefull $10 million of new financing thereunder has been scheduledfor April 26, 2011.

Hans Birkholz, CEO of Ambassadors and Windstar, said, "We are ontrack with our sale process. Windstar is maintaining normalbusiness operations and our customers and guests remain a toppriority as we move through this process to position Windstar forlong-term profitability and success under new ownership."

On April 1, 2011, Ambassadors announced an agreement to sellsubstantially all of its assets, including Windstar, toWhippoorwill Associates, Inc., as agent for its discretionaryfunds and accounts. Whippoorwill intends to maintain Windstar'sbusiness and operations and invest in Windstar's growth followingcompletion of the anticipated sale. In addition, the financingfacility that received interim Court approval is being provided toWindstar and Ambassadors by Whippoorwill.

Ambassadors also announced that it received notification from theNasdaq Stock Market on April 4, 2011, indicating that the staff ofthe Nasdaq Stock Market has determined, in accordance with NasdaqListing Rules 5101, 5110(b) and IM-5101-1, that Ambassadors'common stock will be delisted from the Nasdaq Stock Market inlight of, among other things, Ambassadors' announcement that itfiled a voluntary petition for relief under Chapter 11 of theUnited States Bankruptcy Code. The notification states that Nasdaqtrading in Ambassadors' common stock will be suspended at theopening of business on April 13, 2011, and Nasdaq will requestthat the Securities and Exchange Commission remove Ambassadors'securities from listing and registration on the Nasdaq StockMarket, unless Ambassadors requests an appeal of the delistingdecision. Ambassadors does not intend to appeal Nasdaq'sdelisting decision, and therefore it is expected that the commonstock will be delisted.

About Ambassadors International

Headquarters in Seattle, Washington, Ambassadors International,Inc. (NASDAQ: AMIE) -- http://www.ambassadors.com/-- operates Windstar Cruises, a three-ship fleet of luxury yachts that explorethe hidden harbors and secluded coves of the world's most sought-after destinations. Carrying 148 to 312 guests, the luxuriousships of Windstar cruise to nearly 50 nations, calling at 100ports throughout Europe, the Caribbean and the Americas.

The Debtors disclosed $86.4 million in total assets and$87.3 million in total debts as of Dec. 31, 2010.

AMERICA WEST: Lenders Convert $3-Mil. Debt Into Shares------------------------------------------------------America West Resources, Inc., and subsidiary America WestServices, Inc. entered into a loan agreement with lenders DenlyUtah Coal, LLC, John Thomas Bridge and Opportunity Fund, L.P., andJohn Thomas Bridge and Opportunity Fund II, L.P., pursuant towhich the lenders agreed to convert an aggregate of $3 million ofdebt into shares of Company common stock at a conversion price of$1.00 per share, with any remaining debt not converted to beevidenced by new 8% secured promissory notes. The closing of thedebt conversion was subject to certain conditions, including acondition that the Company raise net proceeds of at least$3.8 million on or before March 15, 2011 through the sale of itscommon stock at a price not less than $1.00 per share.

As additional consideration for entering into the Loan Agreement,the Company entered into that certain amendment to second warrant,dated Feb. 11, 2011, pursuant to which the vesting of the warrantissued to Denly, dated Oct. 9, 2009 was accelerated. Under thewarrant, Denly has the right to acquire up to 916,667 shares ofCompany common stock until Oct. 9, 2019 at an exercise price of$0.12 per share.

In connection with the execution of the Loan Agreement, HiddenSplendor Resources, Inc., a wholly owned subsidiary of theCompany, entered into amendment no. 2 to that certain RoyaltyAssignment and Agreement, Grant of Security Interest and FinancingStatement dated May 27, 2009 and amendment no. 1 to that certainRoyalty Assignment and Agreement dated Oct. 9, 2009. Pursuant tothe Amendment to May 2009 Royalty Agreement, Denly, JTBOF1, andcertain other third party lenders will receive an aggregate $2.00per ton royalty on coal mined and sold from the Horizon Mine forthe period beginning Jan. 1, 2012 through Dec. 31, 2019, subjectto one month extensions for each month where less than 15,000 tonsof coal are sold from the Horizon Mine. Pursuant to the Amendmentto October Royalty Agreement, Denly will receive a $1.00 per tonroyalty on coal mined and sold from the Horizon Mine beginningJan. 1, 2020 through Dec. 31, 2021.

As of March 15, 2011, the conditions to the debt conversion underthe Loan Agreement had not been satisfied. However, on March 31,2011, the Company, AWS, and the Lenders entered into an amendmentto the Loan Agreement, pursuant to which the Lenders agreed toextend the date on which the conditions to the debt conversionmust be met from March 15, 2011 to March 31, 2011 and reduced theequity financing condition from $3.8 million to $2,444,967.Additionally, the Lenders agreed to increase the amount of debtsubject to the conversion from $3,000,000 to approximately$5,000,000.

Concurrently upon the execution of the Amendment to LoanAgreement, the Lenders converted an aggregate of $5,034,822 ofdebt into 5,034,822 shares of Company common stock. The Companyissued new notes to the Lenders representing an aggregate amountof $11,555,266 of debt that was not converted. The New Notes bearinterest at 8% per annum, with principal and interest paymentscommencing July 1, 2011 based on a 5-year amortization, whichcontinue for a period of 35 months. A balloon payment consistingof all remaining principal and accrued interest will be due onJune 1, 2014. In addition, the principal and accrued interestdue under the New Notes is convertible into shares of Companycommon stock at any time during the loan period at a conversionprice equal to (i) $1.00 per share until the amount convertedequals 50% of the original principal amount due under theapplicable New Note, (ii) then $1.25 per share until the amountconverted equals 75% of the original principal amount due underthe applicable New Note, and (iii) then $1.50 per sharethereafter.

The New Notes are secured by substantially all of the assets ofthe Company and AWS pursuant to an amended and restated securityagreement, dated March 31, 2011. The Company also agreed toregister the resale of shares issued to Denly, Denly ACI Partners,Ltd., The von Waaden 2004 Revocable Trust, JTBOF1 or JTBOF2 priorto March 31, 2011 and shares of common stock issuable Company toDenly, Denly ACI Partners, Ltd., The von Waaden 2004 RevocableTrust, JTBOF1 or JTBOF2 upon the exercise of any warrant or uponthe conversion of any note subsequent to March 31, 2011, on ademand and "piggyback" basis pursuant to a registration rightsagreement, dated March 31, 2011.

During March 2011, the Company has sold an aggregate of 3,310,000shares of its common stock in a private placement resulting ingross proceeds of approximately $3,310,000. The offers and salesof the 3,310,000 shares of common stock were made withoutregistration under the Act, and the securities laws of certainstates, in reliance on the exemptions provided by Section 4(2) ofthe Act and Regulation D under the Act and in reliance on similarexemptions under applicable state laws.

About America West

Based in Salt Lake City, Utah, America West Resources, Inc., is anestablished domestic coal producer engaged in the mining of cleanand compliant (low-sulfur) coal. The majority of the Company'scoal is sold to utility companies for use in the generation ofelectricity.

The Company's balance sheet at Sept. 30, 2010, showed$17.55 million in total assets, $28.50 million in totalliabilities, and a stockholders' deficit of $10.94 million.

As reported in the Troubled Company Reporter on April 27, 2010,MaloneBailey, LLP, in Houston, expressed substantial doubt aboutthe Company's ability to continue as a going concern, followingthe Company's 2009 results. The independent auditors noted thatthe Company has a working capital deficit and has incurredsignificant losses.

The Company reported a net loss of $8.70 million on $11.01 millionof revenue for 2009, compared with a net loss of $6.58 million on$7.30 million of revenue for 2008.

AMERICAN APPAREL: Looking for Buyers, peHUB Says------------------------------------------------Jonathan Marino at peHUB reports that three sources familiar withthe matter told peHUB American Apparel is working with Rothschildto help it explore a potential sale, as the company contends witha falling stock price and the threat of bankruptcy. AmericanApparel CEO Dov Charney did not respond to a request for comment.

According to peHUB, two of the sources said if American Apparel issold, it is unlikely that the buyer will permit Mr. Charney toremain with the organization. Mr. Charney has been named adefendant in multiple lawsuits, including one from a formeremployee who alleges that she was his sex slave.

peHUB relates one source is working with a potential AmericanApparel buyer. That source says Mr. Charney has been buying stockin American Apparel, which has seen its share price plummetfollowing the revelation on March 31 that it faces bankruptcy.American Apparel's shares were trading for 82 cents on Tuesday,down from a 52-week high of $3.62. Its market cap is just under$64 million.

peHUB notes it is believed Mr. Charney controls more than 60% ofthe company now, although recent reports peg his ownership closerto 54%. Mr. Charney has been converting his American Apparel debtholdings to equity, according to the source working with apotential buyer.

That source, according to peHUB, also says American Apparel'screditor, Lion Capital, hired Miller Buckfire in anticipation ofany significant event that pushes the company closer to a Chapter11 bankruptcy filing. Lion Capital recently removed its twodirectors, Lyndon Lea and Neil Richardson, from American Apparel'sboard.

peHUB recounts that Mr. Charney on Tuesday declared in aninterview by Counselor magazine and in a separate statement that"there's no chance this industry has to worry about me, orAmerican Apparel, leaving." He asserted the statement about thepossibility of bankruptcy in the company's annual report was"something we did as an obligation to shareholders . . . To saythat the company is unstable is notaccurate, "he said.

Extremely Challenging Year

American Apparel reported a net loss of $86.31 million on$532.99 million of net sales for the year ended Dec. 31, 2010,compared with net income of $1.11 million on $558.77 million ofnet sales during the prior year.

American Apparel reported a net loss of $19.30 million on $143.97million of net sales for the three months ended Dec. 31, 2010,compared with net income of $3.05 million on $158.11 million ofnet sales for the same period during the prior year.

Tom Casey, Acting President, of American Apparel stated: "2010 wasan extremely challenging but productive year. We suffered theafter-effects of a major labor disruption resulting from animmigration intervention in 2009. The disruption of our 2010production schedule resulted in significantly higher productioncosts per unit and late deliveries of products to our stores andto our wholesale clients. In addition, we encounteredextraordinarily challenging world-wide economic conditions. Wealso experienced higher yarn and fabric costs in the second halfof 2010. These factors along with a weak retail environment andintense competition resulted in weak comparable store sales and alower EBITDA."

A full-text copy of the press release announcing the fourthquarter and full-year 2010 financial results is available for freeat http://is.gd/jgcuJC

The Company's balance sheet at Dec. 31, 2010 showed$327.95 million in total assets, $252.93 million in totalliabilities, and $75.02 million in total stockholders' equity.

Bankruptcy Warning

American Apparel, Inc., if unable to improve its operatingperformance and financial position, obtain alternative sources ofcapital or otherwise meet its liquidity needs, may need tovoluntarily seek protection under Chapter 11 of the U.S.Bankruptcy Code, the retailer said in its annual report on Form10-K filed with the U.S. Securities and Exchange Commission.

American Apparel reported a net loss of $86.31 million on$532.99 million of net sales for the year ended Dec. 31, 2010,compared with net income of $1.11 million on $558.77 million ofnet sales during the prior year.

Marcum LLP, in New York, in its audit report on American Apparel'sfinancial statements for the year ended Dec. 31, 2010, expressedsubstantial doubt about the Company's ability to continue as agoing concern. The independent auditors noted that the Companyhas incurred a substantial loss from operations and had negativecash flow from operations for the year ended Dec. 31, 2010. As aresult of noncompliance with certain loan covenants, debt withcarrying value of approximately $138.0 million at Dec. 31, 2010,could be declared immediately due and payable. Notwithstandingthe foregoing, the Company has minimal availability for additionalborrowings from its existing credit facilities, which could resultin the Company not having sufficient liquidity or minimum cashlevels to operate its business.

ANGEL ACQUISITION: Delays Filing of 2010 Annual Report------------------------------------------------------Angel Acquisition Corp. notified the U.S. Securities and ExchangeCommission that it will be late in filing its annual report onForm 10-K for the period ended Dec. 31, 2010. The Company said itdid not provide its auditors with all of the information necessaryfor the auditors to complete the audit of the financial statementsprior to the date on which the Form 10-K was required to be filed.

About Angel Acquisition

Carson City, Nev.-based Angel Acquisition Corp. was incorporatedunder the laws of the state of Nevada on March 10, 1999, under thename Palomar Enterprises, Inc. On February 5, 2008, the Companychanged its name to Angel Acquisition Corp. to properly reflectthe change in business direction. The Company assists privatecompanies in the process of going public as well as being alicensed mortgage broker and developer.

The Company's balance sheet at Sept. 30, 2010, showed$1.75 million in total assets, $2.16 million in total liabilities,and a stockholders' deficit of $410,063.

Gruber & Company, LLC, in Lake Saint Louis, Mo., expressedsubstantial doubt about the Company's ability to continue as agoing concern, following the Company's results for 2009. Theindependent auditors noted that the Company is dependent upon theavailable cash on hand and either future sales of securities orupon its current management or advances or loans from controllingshareholders or corporate officers to provide sufficient workingcapital.

ANGIOTECH PHARMACEUTICALS: Court Sanctions Amended CCAA Plan------------------------------------------------------------Angiotech Pharmaceuticals, Inc., announced on April 7, 2011, thatthe Supreme Court of British Columbia has issued a sanction orderapproving Angiotech's second amended and restated plan ofcompromise or arrangement. The Amended Plan is designed tofacilitate the completion of a recapitalization transactionconcerning, affecting and involving Angiotech and certain of itssubsidiaries pursuant to the Companies' Creditors Arrangement Act(Canada). The Company also announced today that the United StatesBankruptcy Court for the District of Delaware has issued an order,pursuant to Chapter 15 of title 11 of the United States Code,recognizing and giving full force and effect to the Sanction Orderin the United States.

The Angiotech Entities expect to implement the Amended Plan nolater than April 30, 2011, subject to the satisfaction or waiverof all conditions precedent contained in the Amended Plan.

As announced previously, the implementation of the Amended Planand the completion of this process will eliminate $250 million ofAngiotech's long-term debt obligations, and interest obligationsrelated thereto, allowing for significant improvements toAngiotech's balance sheet, operating flexibility and liquidityoutlook.

Further information about the Angiotech Entities' restructuringprocess, including the particulars relating to the treatment ofAngiotech's existing shareholders and creditors under the AmendedPlan, can be found at www.angiotech.com and on the website of theMonitor, at http://www.alvarezandmarsal.com/angiotech

Alvarez & Marsal Canada Inc., as monitor and foreignrepresentative, filed Chapter 15 petitions for AngiotechPharmaceuticals Inc. and its units (Bankr. D. Del. Lead Case No.11-10269) on Jan. 30, 2011, to seek recognition of theirinsolvency proceedings under the Companies' Creditors ArrangementAct in Canada as a "foreign main proceeding" under 11 U.S.C.Sec. 1517.

The Company's balance sheet at Sept. 30, 2010, showedUS$326.80 million in total assets, US$60.30 million in currentliabilities, and US$622.16 million in non-current liabilities anda stockholders' deficit of US$355.67 million.

As reported by the Troubled Company Reporter on Feb. 21, 2011, theSupreme Court of British Columbia accepted for filing a plan ofcompromise or arrangement, with terms and conditions materiallyconsistent with Angiotech's recapitalization transaction. TheCanadian Court granted an order authorizing the holding of ameeting of the affected creditors of the Angiotech Entities onApril 4. The purpose of the meeting is for the Affected Creditorsto consider and vote on the Plan. If the Plan is approved by therequired majority of Affected Creditors, the Angiotech Entitiesintend to bring a further motion on or about April 6 seeking asanctioning of the Plan by the Court. The Canadian Court alsogranted an order establishing a procedure for the adjudication,resolution and determination of claims of Affected Creditors forvoting and distribution purposes under the Plan and fixing aclaims bar date of March 17, 2011.

ARAPAHOE LAND: 67-Acre Property in League City Valued at $13.5MM----------------------------------------------------------------Bill Rochelle, Bloomberg News' bankruptcy columnist, reports thatArapahoe Land Investments LP, which filed for Chapter 11protection on Tuesday, disclosed that the 67 acres it owns inLeague City, Texas, is worth $13.5 million while its mortgage debtis $8.5 million. Trustmark National Bank is the holder of themortgage. The Abundant Life Christian Center of Lamarque Inc.holds about 75% of the limited partner interests.

Arapahoe's Chapter 11 case summary is in the April 7 edition ofthe Troubled Company Reporter.

ATLANTIC SOUTHERN: Delays Filing of 2010 Annual Report------------------------------------------------------Atlantic Southern Financial Group, Inc., has determined that it isunable to timely file its Annual Report on Form 10-K for thefiscal year ended Dec. 31, 2010, within the prescribed time periodwithout unreasonable effort or expense. Furthermore, the Companyexpects that it will not be able to file the Form 10-K within thefifteen-day extension permitted by the rules of the Securities andExchange Commission.

About Atlantic Southern

Macon, Ga.-based Atlantic Southern Financial Group, Inc. (NASDAQ:ASFN) operates nine banking locations in the middle Georgiamarkets of Macon and Warner Robins, five locations in the coastalmarkets of Savannah, Darien, Brunswick, one location in the southGeorgia market of Valdosta, Georgia and one location in thenortheast Florida market of Jacksonville, Florida. The Companyspecializes in commercial real estate and small business lending.

The Company's balance sheet at Sept. 30, 2010, showed$852.6 million in total assets, $832.4 million in totalliabilities, and stockholders' equity of $20.2 million.

"As a result of the extraordinary effects of what may ultimatelybe the worst economic downturn since the Great Depression, theCompany's and the Bank's capital have been significantlydepleted," the Company said in its Form 10-Q for the quarter endedSept. 30, 2010. The Company recorded a net loss of $59.2 millionin 2009, and a net loss of $9.3 million in the first nine monthsof 2010.

The Company's ability to raise additional capital will depend onconditions in the capital markets at that time, which are outsideits control, and on its financial performance. Accordingly, theCompany cannot be certain of its ability to raise additionalcapital on terms acceptable to them. The Company's inability toraise capital or comply with the terms of the Order [to Cease andDesist] raises substantial doubt about its ability to continue asa going concern."

On Sept. 11, 2009, the Company's wholly-owned subsidiary bank,Atlantic Southern Bank, entered into a Stipulation and Consent tothe Issuance of an Order to Cease and Desist with the FederalDeposit Insurance Corporation and the Georgia Department ofBanking and Finance, whereby the Bank consented to the issuance ofan Order to Cease and Desist.

AVIS BUDGET: Moody's Upgrades Corporate Family Rating to 'B1'-------------------------------------------------------------Moody's Investors Service raised these ratings of Avis BudgetGroup, Inc.: Corporate Family Rating (CFR) and Probability ofDefault Rating (PDR) to B1 from B2, senior unsecured to B2 fromB3, and senior secured to Ba1 from Ba2. Moody's also assigneda Ba1 rating to Avis' proposed $1.25 billion secured creditfacility that will replace an existing $1.175 billion securedcredit facility with maturities in 2011 and 2013. The company'sSpeculative Grade Liquidity rating remains SGL-3 and the ratingoutlook is stable.

Ratings Rationale

The upgrade reflects the improved operating fundamentals in thedomestic car rental sector and Avis' ongoing efforts to lowercosts and expand profit margins. As a result, Avis should beable to achieve further improvement in its credit metrics. Anadditional consideration in the upgrade is Moody's expectationthat if Avis is successful in its attempt to acquire DollarThrifty Automotive Group (B3/positive), the transaction willbe consummated on terms that are largely consistent with itscurrent offer.

The domestic car rental industry is benefiting from severalfactors. First, the major players in the sector are maintaininga disciplined approach toward vehicle purchases and are focusingon keeping overall fleet size in line with demand. Second, carrental companies are also placing greater emphasis on improvingprofitability and return measures though lowering costs andgrowing ancillary revenues, rather than attempting to gain sharethrough price reductions. Finally, used car prices are expectedto remain strong now that domestic auto manufacturers haveachieved operating models that are driven by retail demand ratherthan by the need to cover high fixed costs.

Within this environment Avis has been exceedingMoody's expectations for lowering its costs and expandingprofitability. Between 2008 and 2010, the company's operatingmargin (reflecting Moody's standard adjustments) increased from10% to 15.7%. Moody's expecta that profitability and other keymetrics will continue to improve from the levels achieved during2010. These measures (incorporating Moody's adjustments) include:EBIT/interest of 1.2x; debt/EBITDA of 4.1x; and EBITA/averageassets of 5.9%.

Avis' current offer of $58 per share for Dollar represents apurchase price of approximately $1.8 billion. Moody's expectsthat a large portion of the purchase price will be funded bythe cash held by Avis and Dollar, and by a meaningful equityoffer by Avis. Moody's assessment also assumes that assetsdisposed of by Avis in order to achieve regulatory approval forthe transaction would generate revenues that approximate no morethan $325 million. These transaction characteristics, combinedwith Dollar's future earnings prospects and available synergies,should enable Avis (pro forma for the transaction) to maintaincredit metrics that are similar to those generated during fiscal2010.

To the extent that Avis is successful in expanding its marginsthrough cost reductions, there could be further positive movementin the rating if EBIT/interest can be sustained in the area of 2xand debt/EBITDA below 3.5x. An additional critical considerationin any upward movement in Avis' rating will be the company'sliquidity profile. Although Avis will maintain a sizable cashposition and availability under its revolver, it will remainheavily dependent on continued annual access to the ABS market inorder to fund its fleet purchases. This dependence would increasewith an acquisition of Dollar. A key consideration in any furtherupgrade will be Avis' ability to moderate the annual maturities offleet and corporate debt, and to enhance sources of liquidity inthe form of cash on hand and committed multi-year creditfacilities.

The rating could come under pressure if Avis were to significantlyincrease its offer for Dollar, whose current share price is $68.There could also be pressure if EBIT/interest were to remain near1x or if debt/EBITDA exceeded 4.5x.

The principal methodologies used in this rating were GlobalEquipment and Automobile Rental Industry published in December2010, and Loss Given Default for Speculative-Grade Non-FinancialCompanies in the U.S., Canada and EMEA published in June 2009.

AVISTAR COMMUNICATIONS: Sells $3 Million Conv. Note to G. Burnett-----------------------------------------------------------------Avistar Communications Corporation, sold a 4.5% ConvertibleSubordinated Secured Note due 2013 in the principal amount of$3,000,000. The Note was sold pursuant to a Convertible NotePurchase Agreement, dated as of March 29, 2011, among the Companyand director Gerald Burnett. The Company's obligations under theNote are secured by the grant of a security interest insubstantially all tangible and intangible assets of the Companypursuant to a Security Agreement among the Company and thePurchaser dated as of March 29, 2011. The terms of the Note aresubstantially similar to the Company's 4.5% ConvertibleSubordinated Secured Notes due 2010 sold pursuant to a ConvertibleNote Purchase Agreement, dated as of Jan. 4, 2008, among theCompany, Baldwin Enterprises, Inc., a subsidiary of LeucadiaNational Corporation and certain other parties.

The Note has a two-year term and will be due on March 29, 2013.The Note may not be prepaid or redeemed prior to maturity.

With certain exceptions, the payment rights of the holder of theNote are subordinated to the payment rights of JPMorgan ChaseBank, N.A. under the Company's Second Amended and RestatedRevolving Credit Facility with the Bank dated as of Dec. 22, 2009,as amended, and, with one exception, the lien granted to thePurchaser is subordinated in priority to the lien granted to theBank.

As the only purchaser acquiring the Note, director Gerald Burnettwill be entitled to purchase up to his pro rata share of equity orconvertible securities issued by the Company in future financingsclosing on or prior to March 29, 2013.

The Company intends to use the net proceeds from the issuance ofthe Note for working capital, capital expenditures and othergeneral corporate purposes.

The Company reported net income of $4.45 million on $19.65 millionof total revenue for the year ended Dec. 31, 2010, compared with anet loss of $3.98 million on $8.82 million of total revenue duringthe prior year.

The Company's balance sheet at Dec. 31, 2010 showed $3.27 millionin total assets, $11.12 million in total liabilities, and a$7.85 million total stockholders' deficit.

The Company reported net income of $5.17 million on $58.23 millionof net sales for the 13 weeks ended Jan. 29, 2011, compared withnet income of $5.59 million on $57.63 million of net sales for the13 weeks ended Jan. 30, 2010.

The Company's balance sheet at Jan. 29, 2011, showed$48.01 million in total assets, $53.99 million in totalliabilities, and a $5.98 million shareholders' deficit.

Peter Edison, Chairman and Chief Executive Officer of BakersFootwear Group commented, "We achieved solid profitability in thefourth quarter fueled by positive comparable store sales and a9.9% increase in multi-channel sales despite increased promotionalactivity toward the end of the quarter to position our businessfor a much improved spring season. The year included progresstoward our key initiatives to increase sales and position ourCompany for improved long term operating performance. To thisend, we continued our fashion leadership in footwear, which isdemonstrated by the achievement of our third consecutive year ofpositive comparable store sales in 2010. We introduced exclusivebrands in our Bakers stores to provide further differentiation inour offerings, which is expected to increase customer loyalty andbroaden our consumer reach. We also capitalized on thesignificant runway that we see ahead to increase our multi-channelsales. At the same time, we continued to tightly manage expenses.Our increased inventory levels at year end reflected the earlyreceipt of spring goods with aging improved from 2009. We alsoare happy to note that we completed the repayment of oursubordinated secured term loan during the fourth quarter."

A full-text copy of the press release announcing the financialresults is available for free at http://is.gd/HGpEGb

About Bakers Footwear

St. Louis, Mo.-based Bakers Footwear Group, Inc. (OTC BulletinBoard: BKRS.OB) is a national, mall-based, specialty retailer offootwear and accessories for young women. The Company'smerchandise includes private label and national brand dress,casual and sport shoes, boots, sandals and accessories. As ofOct. 30, 2010, the Company operated 236 stores, including 220Bakers stores and 16 Wild Pair stores located in 35 states.

The Company's balance sheet at Oct. 30, 2010, showed$51.17 million in total assets, $62.42 million in totalliabilities, and a stockholders' deficit of $11.25 million.

As reported in the Troubled Company Reporter on May 4, 2010, Ernst& Young LLP, in St. Louis, Mo., expressed substantial doubt aboutthe Company's ability to continue as a going concern, followingits results for the fiscal year ended Jan. 30, 2010. Theindependent auditors noted that the Company has incurredsubstantial losses from operations in recent years and has asignificant working capital deficiency. Bakers Footwear reporteda net loss of $9.1 million on $185.4 million of revenue for thefiscal year ended Jan. 30, 2010, compared with a net loss of$15.0 million on $183.7 million of revenue for the year endedJan. 31, 2009.

BEAZER HOMES: Introduces Pre-Owned Homes Division-------------------------------------------------Beazer Homes announced it is expanding beyond new home sales withthe introduction of its Pre-Owned Homes Division. Beginning inthe Phoenix market, the new division is charged with acquiring,improving and renting recently built, previously owned homeswithin select communities in markets in which the companycurrently operates. By augmenting the sale of newly constructedhomes with rental options of previously owned homes, Beazerexpects to appeal to a broader range of consumers.

Ian J. McCarthy, Beazer Homes' Chief Executive Officer commentedon the new Division: "While many prospective home buyers recognizethat this is an excellent time to purchase a new Beazer eSMARThigh performance home - with all of its award-winning energy-saving features - other consumers want or need different homealternatives. With the Pre-Owned Homes Division, we look forwardto addressing this demand."

Homes targeted for inclusion in the Pre-Owned Homes program willhave been built since 2004 by a reputable builder, including homesbuilt by Beazer Homes, and will be located within, or near to anactive Beazer Homes new home community. All Beazer Pre-OwnedHomes will receive necessary repairs and upgrades to bring them upto strict Company standards.

Because the primary source of Pre-Owned Homes will be distressedsales, typically foreclosures or short sales, Beazer anticipatesacquiring homes at a discount to their replacement cost. Havingcompleted its first acquisitions and tenant move-in during March,Beazer anticipates increasing the size of its Pre-Owned Homesportfolio to more than 100 homes in Phoenix by the end of fiscal2011.

The Company expects the rental of these homes to appeal toconsumers who have elected not to become home owners as well asthose who may not fully qualify for mortgage financing for a newhome at this time. The rental market for recently built homes inPhoenix is very strong, with an estimated vacancy rate below 5%.

The new Division leverages Beazer's strengths as a homebuilder andknowledge of its markets, and offers an attractive investmentproposition for a portion of the Company's cash reserve. RichO'Connor, a longtime Beazer executive, has been appointed to leadthe company's Pre-Owned Homes Division.

"As a public homebuilder with significant financial resources,Beazer has the expertise to identify, acquire and improve thisselect group of previously-owned homes," said O'Connor. "And byworking with third party local property management companies, wewill be creating a best-in-class rental experience for consumers."

Because Beazer will own each home, rather than a bank or an under-capitalized investor, renters can have confidence in the homes andneighborhoods served by the Pre-Owned Homes Division. In thecoming months the Pre-Owned Homes Division may expand itsgeographic coverage to include homes in Nevada or California.

Upon a recovery in the housing markets, characterized in part byhigher home prices and lower cash yields from rental income,Beazer expects to offer these previously owned homes for re-sale,either to their respective tenants or to other buyers.

Fitch said in November 2010 that the ratings and Outlook forBeazer reflect the company's healthy liquidity position, improvedcapital structure as well as the challenges still facing thehousing market. Fitch expects existing home sales will decline7.5% in 2010 and increase 6% in 2011.

S&P said that although Beazer's business and liquidity profileshave improved, S&P doesn't anticipate raising its ratings on thecompany over the next 12 months because S&P expects costsassociated with the company's heavy debt load will weigh onprofitability.

The 'Caa1' corporate family rating, Moody's said in November 2010,reflects its expectation that Beazer has reduced costssufficiently that it will continue to reduce losses in fiscal2011. The impairments and other charges are likely to be lessmaterial going forward, given the company's improving gross marginperformance, stabilizing pricing environment, and increasingabsorptions. However, Moody's expectation is that Beazer's cashflow performance will weaken in 2011, as the benefits of inventoryliquidation have largely played out. The ratings also reflect thecompany's extended debt maturity profile, improved Moody's-adjusted debt leverage, and increased net worth position.

BIOLASE TECHNOLOGY: IsZo Capital Discloses 5.7% Equity Stake------------------------------------------------------------In a Schedule 13G filing with the U.S. Securities and ExchangeCommission, IsZo Capital LP and its affiliates disclosed that theybeneficially own 1,577,431 shares of common stock of BiolaseTechnology, Inc., representing 5.7% of the shares outstanding.As of March 15, 2011, there were 27,479,743 shares of theCompany's common stock, par value $0.001 per share, outstanding.

The Company reported a net loss of $12.02 million on$24.58 million of products and services revenues for the yearended Dec. 31, 2010, compared with a net loss of $2.95 million on$42.14 million of products and services revenues during the prioryear.

The Company's balance sheet at Dec. 31, 2010, showed$18.14 million in total assets, $21.19 million in totalliabilities and a $3.05 million total stockholders' deficit.

BDO USA, LLP raised substantial doubt about the Company's abilityto continue as a going concern, following the 2010 results. Theaccounting firm noted that the Company has suffered recurringlosses from operations, has had declining revenues and has aworking capital deficit at Dec. 31,

BLACK CROW: GECC Says Plan Not Confirmable------------------------------------------Bill Rochelle, Bloomberg News' bankruptcy columnist, reports thatBlack Crow Media Group LLC filed a Chapter 11 plan just as itsexclusive right to propose a reorganization plan was expiring inNovember. The Debtor wants the judge to schedule a hearing forapproval of the disclosure statement by April 18 so it'stheoretically possible to confirm a plan by the end of May whenits exclusive right to solicit acceptances expires.

According to Mr. Rochelle, General Electric Capital Corp., whichhas been in a dispute with the Debtor since the start of the case,is in opposition of the plan. GECC, owed $38.9 million at theoutset of the reorganization, contends the Black Crow plan can'tbe confirmed because it violates provisions in bankruptcy law.The Official Committee of Unsecured Creditors also opposes theplan.

A hearing on the matter was scheduled for April 6.

The Plan, according to Mr. Rochelle, offers three alternatives toGECC:

1. The first option would allow GECC to take $13 million in cash and walk away;

2. The second option would give GECC a 10-year note for about $15.6 million, representing the value of the collateral. The note would pay 4% interest and 1% a year in principal, plus a portion of excess cash flow. For the deficiency claim, GECC would receive 20% of sale proceeds above $3 million; and

3. If GECC votes against the plan, it would take the second option if the judge approves the plan.

Mr. Rochelle adds that the Plan would pay unsecured creditors infull over five years. Unsecured claims are less than $700,00

BLOCKBUSTER INC: Court Approves Sale of Assets to DISH Network--------------------------------------------------------------Blockbuster Inc. announced on April 7, 2011, that the U.S.Bankruptcy Court for the Southern District of New York hasapproved the sale of substantially all of Blockbuster's assets toDISH Network Corporation. As previously announced, DISH's offerof $320.6 million was selected as the successful bid following arobust auction conducted earlier this week. The auction processwas designed to achieve the highest and best offer for theCompany's assets and was conducted in accordance with Section 363of the U.S. Bankruptcy Code.

Under the terms of the DISH asset purchase agreement, which hasbeen filed with the court, the Blockbuster estate is to receiveapproximately $227 million in cash distributions. The transactionis expected to close on April 25th.

Jim Keyes, Chairman and Chief Executive Officer, commented, "Weare pleased to have reached this important milestone in theongoing transformation of Blockbuster. The combination of DISHNetwork with Blockbuster's multi-channel offering will ultimatelyprovide our combined subscribers and customers the most convenientaccess to an outstanding entertainment experience."

* * *

The Wall Street Journal's Mike Spector and Dow Jones Newswires'Joseph Checkler report that Dish Network Corp. won a bankruptcyauction for Blockbuster Inc. early Wednesday morning with its$320.6 million offer.

The auction began Tuesday morning in federal bankruptcy court inManhattan and concluded around 1:25 a.m. at the offices of lawfirm Cadwalader, Wickersham & Taft, the report says. Theauction's conclusion was closed to reporters. Cadwalader servedas adviser to investor Carl Icahn, one of the bidders.

According to the report, people familiar with the matter saidBlockbuster's creditors will see about $178.8 million of Dish'sbid. The balance of the money will go toward expenses associatedwith the auction and the company's bankruptcy proceedings.

According to Messrs. Spector and Checkler, one source said Dishviews Blockbuster as a "going concern," in contrast to some otherbidders who considered liquidating the company. That person saidDish:

-- has expressed interest in using some Blockbuster stores to sell subscriptions to its service; and

-- is interested in possible synergies from Blockbuster's on-demand business.

According to Messrs. Spector and Checkler, Dish confirmed itswinning bid around 6 a.m., and said it expects to pay $228 millionin cash to acquire Blockbuster when the deal closes in the secondquarter.

Messrs. Spector and Checkler relate Dish opened Tuesday's biddingwith a $284 million offer. After a few rounds of bidding,Mr. Icahn countered with $310.6 million that would send $164.2million to creditors. Mr. Icahn had teamed up with severalliquidators, including Great American Group and Tiger CapitalGroup.

An investment group led by Monarch came with a bid deemed "higherand better" by Blockbuster's representatives; it would have sent$166.7 million to creditors. The Monarch-led group set the floorwith its $290 million stalking horse bid in February.

The report notes that South Korea's SK Telecom Co., and aliquidators team consisting of Gordon Brothers Group and HilcoMerchant Resources had also submitted early bids. SK Telecomoffered $284.5 million for Blockbuster before one of Mr. Icahn'sbids, saying it had reached deals with three of the top moviestudios that ship the company DVDs that would add $50 million invalue for creditors and keep the company as a going concern.According to Messrs. Spector and Checkler, Neil Augustine, aBlockbuster banker from Rothschild Inc., told SK Telecom's lawyerthe bid failed to top a prior offer from the Monarch-led group.

"I think, for the reasons I've articulated, we can't fathom howyou've come to that conclusion," said David Feldman, the Koreanmobile operator's lawyer from Gibson, Dunn & Crutcher, Messrs.Spector and Checkler relate. SK Telecom soon after dropped out ofthe auction, the report says.

About Blockbuster Inc.

Based in Dallas, Texas, Blockbuster Inc. (Pink Sheets: BLOKA,BLOKB) -- http://www.blockbuster.com/-- is a global provider of rental and retail movie and game entertainment. It has a libraryof more than 125,000 movie and game titles.

Blockbuster Inc. and 12 U.S. affiliates initiated Chapter 11bankruptcy proceedings with a pre-arranged reorganization planin Manhattan (Bankr. S.D.N.Y. Case No. 10-14997) on Sept. 23,2010. It disclosed assets of $1 billion and debts of $1.4 billionat the time of the filing.

Blockbuster's non-U.S. operations and its domestic andinternational franchisees, all of which are legally separateentities, were not included in the filings and are not parties tothe Chapter 11 proceedings.

A steering group of senior secured noteholders is represented byJames P. Seery, Esq., and Paul S. Caruso, Esq., at Sidley AustinLLP. U.S. Bank National Association as trustee and collateralagent for the senior secured notes is represented by DavidMcCarty, Esq., and Kyle Mathews, Esq., at Sheppard Mullin Richter& Hampton LLP. BDO Consulting is the financial advisor for U.S.Bank.

Lenders led by Wilmington Trust FSB are providing the DIPfinancing. The DIP Agent is represented by Peter Neckles, Esq.and Alexandra Margolis, Esq., at Skadden, Arps, Slate, Meagher &Flom LLP, in New York.

The Official Committee of Unsecured Creditors has retained CooleyLLP as its counsel.

The Bank of New York Trust Company, N.A., as trustee under thatcertain indenture, dated as of Aug. 20, 2004, with respect to the9% Senior Subordinated Notes due 2012 issued by Blockbuster Inc.,is represented by Edward P. Zujkowski, Esq., at Emmet, Marvin &Martin, LLP.

BLUE DOLPHIN ENERGY: UHY LLP Raises Going Concern Doubt-------------------------------------------------------Blue Dolphin Energy Company filed on March 31, 2011, its annualreport on Form 10-K for the fiscal year ended Dec. 31, 2010.

UHY LLP, in Houston, Texas, expressed substantial doubt about BlueDolphin's ability to continue as a going concern. The independentauditors noted that the Company has suffered recurring losses andnegative cash flows from operations.

The Company reported a net loss of $1.0 million on $2.7 million ofrevenues for 2010, compared with a net loss of $4.1 million on$2.0 million of revenues for 2009.

At Dec. 31, 2010, the Company's balance sheet showed $6.0 millionin total assets, $3.4 million in total liabilities, andstockholders' equity of $2.6 million.

On March 3, 2011, representatives of the General Partner who areaffiliated with Vitol Holding and Charlesbank Holding met withcertain of the Partnership's significant unitholders to discussthe refinancing transactions set forth in the Global TransactionAgreement. On March 22, 2011, representatives of the GeneralPartner who are affiliated with Vitol Holding and CharlesbankHolding again met with certain of the Partnership's significantunitholders and suggested certain modifications that couldpotentially be made to the transactions set forth in the GlobalTransaction Agreement to encourage all unitholders to vote infavor of the unitholder proposals.

These suggested modifications included revising the unitholderproposals to (i) reset the First Target Distribution to $0.1035per unit per quarter, (ii) reset the Second Target Distributionto $0.1350 and (iii) reset the Third Target Distribution to$0.1575. In addition, the suggested modifications provided thatupon a favorable unitholder vote, (i) no distributions wouldaccrue or be paid to the General Partner in respect of itsinterests in the Partnership for the eight quarter periodfollowing the date of the favorable unitholder vote, (ii) VitolHolding and Charlesbank Holding would contribute all of theirsubordinated units to the Partnership thereby eliminating thesubordinated units, (iii) an additional conversion feature wouldbe added to the preferred units such that they would beconvertible at the option of the Partnership at any time afterfive years if the trading price of the Partnership's common unitsis more than 130% of the conversion price of the preferred units,subject to customary minimum trading volume requirements, (iv) thePartnership's partnership agreement would be amended to providethat, for a period of 24 months, the Partnership could not issuesecurities senior to the common units without approval of amajority of the Partnership's common units except for accretiveissuances and issuances for the purpose of repayment of debt and(v) the rights offering would be reduced to $55 million instead of$75 million with the proceeds being used to redeem thePartnership's convertible debentures and for general partnershippurposes. The suggested modifications would eliminate theAdditional Private Placement and Special Dividend, each as definedin the 2010 Form 10-K. The other provisions of the GlobalTransaction Agreement would otherwise remain unchanged.

During the March 22 meeting, the unitholders and therepresentatives of the General Partner discussed the suggestedmodifications as well as the rationale for the Partnership to setthe Minimum Quarterly Distribution at a level that would allow thePartnership to fund future growth projects while continuing tofund the Minimum Quarterly Distribution. The unitholders madeadditional suggestions for consideration, including, among otherthings, further increasing the Minimum Quarterly Distribution andassociated target distributions. After the meetings with theunitholders, representatives of the General Partner continued toengage in constructive discussions with certain of suchunitholders.

Vitol Holding, Charlesbank Holding and the conflicts committee ofthe General Partner are continuing to evaluate potential revisionsto the refinancing transactions contemplated by the GlobalTransaction Agreement. Although there can be no assurance therewill be any revisions to the Global Transaction Agreement, anysuch revisions would require the approval of Vitol Holding andCharlesbank Holding as well as the General Partner's board ofdirectors, including the conflicts committee thereof.

The Company reported a net loss of $23.79 million on$152.62 million of total revenue for the year ended Dec. 31, 2010,compared with a net loss of $16.50 million on $156.77 million oftotal revenue during the prior year. The Company also reported anet loss of $13.19 million on $39.09 million of total revenue forthe three months ended Dec. 31, 2010, compared with a net loss of$5.64 million on $37.07 million of total revenue for the sameperiod during the prior year.

The Company's balance sheet at Dec. 31, 2010, showed $323.84million in total assets, $361.58 in total liabilities and $37.74million in total partners' deficit.

BLUEKNIGHT ENERGY: Inks First Amendment to JPMorgan Credit Pact---------------------------------------------------------------Blueknight Energy Partners, L.P., JPMorgan Chase Bank, N.A., asadministrative agent, and the lenders party thereto entered into aFirst Amendment to Credit Agreement. The Amendment amended thePartnership's credit facility such that certain futuremodifications to the pro rata sharing provisions among the lenderswill now require the consent of lenders holding at least 75% ofthe outstanding commitments and loans under the credit facility,as opposed to 50%.

On April 5, 2011, the Partnership, JPMorgan Chase Bank, N.A., asadministrative agent, and Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. "Rabobank Nederland", New York Branch, enteredinto a Joinder Agreement whereby (i) Rabobank became a lenderunder the Partnership's credit facility and (ii) the Partnership'srevolving credit facility was increased from $75 million to $95million. On April 5, 2011, after giving effect to such JoinderAgreement, approximately $36.7 million of revolver borrowings andletters of credit were outstanding under the credit facility,leaving the Partnership with approximately $58.3 million availablecapacity for additional revolver borrowings and letters of creditunder the credit facility.

A full-text copy of the First Amendment to Credit Agreement isavailable for free at http://is.gd/mvXg11

The Company reported a net loss of $23.79 million on$152.62 million of total revenue for the year ended Dec. 31, 2010,compared with a net loss of $16.50 million on $156.77 million oftotal revenue during the prior year. The Company also reported anet loss of $13.19 million on $39.09 million of total revenue forthe three months ended Dec. 31, 2010, compared with a net loss of$5.64 million on $37.07 million of total revenue for the sameperiod during the prior year.

The Company's balance sheet at Dec. 31, 2010, showed $323.84million in total assets, $361.58 in total liabilities and $37.74million in total partners' deficit.

BOOMERANG SYSTEMS: Ryan Burleson Resigns as COO-----------------------------------------------Ryan Burleson resigned as chief operating officer of BoomerangSystems, Inc., and each of its subsidiaries. Mr. Burleson is nolonger employed with the Company.

About Boomerang Systems

Headquartered in Morristown, New Jersey, Boomerang Systems, Inc.(Pink Sheets: BMER) through its wholly owned subsidiary, BoomerangUtah, is engaged in the design, development, and marketing ofautomated racking and retrieval systems for automobile parking andautomated racking and retrieval of containerized self-storageunits.

For the fiscal year ended Sept. 30, 2010, the Company had a netloss of $15,789,559 compared with a net loss of $9,693,734 duringthe prior year. Revenues were $718,530 for the fiscal year endedSept. 30, 2010 compared with $0 for the fiscal year endedSept. 30, 2009.

C-SWDE348 LLC: Files Reorganization Plan & Disclosure Statement---------------------------------------------------------------C-SWDE348, LLC, has filed with the U.S. Bankruptcy Court for theDistrict of Nevada a plan of reorganization and disclosurestatement.

The Debtor's Lantana Trails Master Plan in Las Vegas, Nevada,serves as collateral for a promissory note in the amount of$11,575,000 issued by the Debtor's parent for the benefit of thelenders. Under the Plan, the Property will be returned to theLenders in full satisfaction of the Note and in lieu offoreclosure. The return will occur by cancelling the equityinterests in the Debtor currently held by the Debtor's parent adissuing Class A membership interests in the reorganized Debtor tothe Lenders on a pro rata basis. In exchange for the cancellationof its common equity, the Parent will receive Class B membershipinterests in the Debtor, which will permit the Parent to receiveonly limited distributions from the Debtor. The Parent, as theholder of the Class B Membership Interests, will have no votingrights other than with regard to the dissolution of thereorganized Debtor as permitted by a new operating agreement. Thepurpose of the Plan is to effectively transfer the ownership ofthe Property to the Lenders without the necessity and expense of aforeclosure as well as to provide a structure and mechanism toprotect and improve and fully realize the value of the Property ofthe Lenders.

After the effective date of the Plan, the Debtor will be governedby the New Operating Agreement. Under the terms of thatagreement, the management of the new limited liability companieswill be vested in a steering committee and a Manager. TheSteering Committee's main function is to approve an annual projectbudget and any amendments thereto which require additional capitalcontributions; and approve the annual business plan of the Debtorand any material modifications thereof. The Steering Committeemust approve any action of the Manager that would cause thereorganized Debtor to be materially out of compliance with anapproved budget. The Steering Committee will be initiallycomprised of five individuals, four of which will be elected bythe Lenders and one of which will be elected by the Manager. Alist of the initial members of the Steering Committee will befiled with the Court and served upon the Lenders prior to thecommencement of any confirmation hearing with respect to the Plan.

The Manager, responsible for the day-to-day management of thereorganized Debtor, will be an affiliate of LST Investments, LLC,dba Clayton Mortgage and Investment. Clayton isn't affiliatedwith or related to the Debtor or the Parent, and is currently theservices of the Note.

The reorganized Debtor's operations will be funded by voluntarycapital contributions from the holders of Class A MembershipInterests on a pro rata basis on the terms and conditions setforth in the New Operating Agreement. Additional membercontributions, among other things, will be requested by theManager in accordance with the Debtor's Steering Committeeapproved budget. Additional Member Contributions will bearinterest in 8% per annum until returned.

The New Operating Agreement also requires the Parent, as Class Bmember, to perform certain obligations, which include contributionof $136,027 as a Class B Member Upfront Payment. The Debtor willuse that money to pay real property taxes attributable to theProperty for the period of Oct. 31, 2009 through Dec. 31, 2011,management fees from May 1, 2010 through December 2011, and feesand expenses previously incurred by Clayton in connection with theenforcement of the Note and related loan documents.

The Parent will also be required to aid the Manager in formulatingthe initial annual budget and business plan for the Debtor.

Upon the sale of the Property or other distribution of cash fromDebtor operations, the net proceeds will be paid:

a. first to the makers of Supplemental Capital Contributions in anamount equal to all unreturned Supplemental Capital Contributionstogether with simple interest at a rate of 8% per annum until allunreturned Supplemental Capital Contributions will have beenreturned in full;

b. second, to the makers of Additional Member Contributions andthe Parent in the amount of all unreturned Additional Membercontributions and the unreturned Class B Member InitialContribution together with simple interest of 8% per annum untilall unreturned Additional Member Contributions and the Class BMember Initial Contribution are returned in full;

c. third, (i) 90% to the holders of Class A Membership Interestson a pro rata basis, and (ii) 10% to the Parent; and

d. fourth, 70% to the holders of Class A Membership Interests on apro rata basis and 30% to the Parent.

Holders of allowed Class 2 Note Claim -- estimated at $11,575,000-- will receive, in complete satisfaction of the claim and allrelated liens, its pro rata share of 100% of the Class AMembership Interests.

Holders of Class 3 Old Membership Units will be exchanged for theClass B Membership Interests.

Administrative Claims will be paid in cash, in full.

Property Tax Claims are unimpaired by the Plan, and each holderwill receive a single cash payment equal to the sum of its allowedproperty tax claim and all accrued postpetition interestcalculated at the rate required by the applicable nonbankruptcylaw.

CALYPTE BIOMEDICAL: Delays Filing of 2010 Annual Report-------------------------------------------------------Calypte Biomedical Corporation informed the U.S. Securities andExchange Commission that it is unable to file its annual report onForm 10-K for the fiscal year ended Dec. 31, 2010 within theprescribed time period. Due to its limited financial resourcesand thin staffing, the Company is unable to complete the audit ofits financial statements in a timely manner. Unexpected delays ingathering data from third parties necessary to finalize thefinancial statements and accompanying notes and administrativeissues have prevented the Company from timely filing the AnnualReport without unreasonable effort or expense. The Companyexpects to be able to file its Annual Report on or beforeApril 30, 2010.

Odenberg, Ullakko, Muranishi & Co. LLP, in San Francisco,expressed substantial doubt about the Company's ability tocontinue as a going concern following the Company's 2009 results.The independent auditors noted that the Company has defaulted on$6.3 million of 8% Convertible Promissory Notes and relatedInterest Notes and $5.2 million of 7% Promissory Notes, hassuffered recurring operating losses and negative cash flows fromoperations, and management believes that the Company's cashresources will not be sufficient to sustain its operations through2010 without additional financing.

The Company's balance sheet at Sept. 30, 2010 showed $2.44 millionin total assets, $6.21 million in total liabilities, and a$3.77 million stockholders' deficit.

CAPMARK FINANCIAL: Pacific Coast-Led Auction Set for April 29-------------------------------------------------------------Bill Rochelle, Bloomberg News' bankruptcy columnist, reports thatCapmark Financial Group Inc. will hold an auction on April 29 todetermine if an affiliate of Pacific Coast Capital Partners LLCfrom El Segundo, California, indeed has the best offer forCapmark's interest in non-bankrupt Capmark Structured Real EstatePartners LP. PCCP is under contract for $7.8 million. Other bidsare due April 22 under procedures approved by the bankruptcy judgein Delaware on April 4. If there is no better offer, thebankruptcy court will hold a sale-approval hearing on April 29.If there is an auction, sale approval will be considered at aMay 18 hearing.

Mr. Rochelle relates that the Capmark fund attracted over$1 billion from investors and has disbursed $103 million, thecourt filing says. Capmark entities manage the fund. Capmarkintends on reorganizing around its non-bankrupt bank subsidiary bygiving stock to unsecured creditors. Secured creditors alreadywere paid off under a settlement approved by the bankruptcy judgein November. It paid secured lenders 91% in cash on the$1.1 billion they were owed, plus interest and reimbursement offees spent in the Chapter 11 case.

The Official Committee of Unsecured Creditors in Capmark FinancialGroup's cases tapped Kramer Levin Naftalis & Frankel LLP as itscounsel and JR Myriad LLC as its commercial real estate businessadvisors. The Committee also retained Cutler Pickering Hale andDorr LLP as its attorneys for the special purpose of providinglegal services in connection with Federal Deposit InsuranceCorporation matters.

Since filing for Chapter 11, Capmark completed three sales togenerate more than $1 billion in cash. Berkshire Hathaway Inc.and Leucadia National Corp. bought most of the business for$468 million.

CARGO TRANSPORTATION: Wants Plan Exclusivity Until May 12---------------------------------------------------------Cargo Transportation Services Inc. asks the U.S. Bankruptcy Courtfor the Middle District of Florida to extend the exclusive periodto file Chapter 11 plan and disclosure statement explaining theplan until May 12, 2011.

On Feb. 10, 2011, the Court set April 1, 2011, as deadline forfiling plan and disclosure statement and a plan of reorganization.If the Disclosure Statement was found to be adequate, the Courtwould enter an order of conditional approval, establishingpertinent deadlines and scheduling a hearing on final approval ofthe disclosure statement and a hearing on confirmation of the Planfor May 4, 2011, at 1:30 p.m.

According to the Debtor's request for an extension, the Debtor andits professionals are currently pursuing strategic alternativesand analyzing issues related to a transaction that will be thebasis for the Plan. The Debtor and its financial advisor are alsoworking on a 24-month post-effective date forecast covering theDebtor's business operations. This forecast will have an impacton the Debtor's Plan and the amount of the ultimate distributionto creditors in this case.

According to the Debtor, the request for extension of time is notsubmitted for purposes of delay and will not prejudice any party.The requested extensions will aid the confirmation process andwill avoid unnecessary confusion and duplication of efforts.

CC MEDIA: M. Mays to Step Down as CEO, to Stay as Board Chairman----------------------------------------------------------------As previously reported, Mark P. Mays announced his decision totransition from his role as the Chief Executive Officer andPresident of CC Media Holdings, Inc., and Clear ChannelCommunications, Inc., an indirect subsidiary of the Company, andas the Chief Executive Officer of Clear Channel Outdoor Holdings,Inc., an indirect subsidiary of the Company and CCU, to theCompany's Chairman and asked the Board of Directors of the Companyto initiate a search for his replacement.

In January 2011 Mr. Mays informed the Board that he would stepdown as the Chief Executive Officer and President of the Companyand CCU and as the Chief Executive Officer of CCOH on the earlierof the date that his successor joined the Company and March 31,2011. The Board has been actively searching for a replacementbut, to date, has not identified a permanent successor.

Effective March 31, 2011, Mr. Mays ceases serving as the ChiefExecutive Officer and President of the Company and CCU and as theChief Executive Officer of CCOH. Mr. Mays will continue to serveas the Chairman of the Board of the Company, CCU and CCOH and asan employee of CCU pursuant to the terms and conditions of hisAmended and Restated Employment Agreement, effective as ofJune 23, 2010, by and between the Company, CCU and Mr. Mays.

On March 31, 2011, the Board and the Board of Directors of CCU andCCOH each (i) established a new "Office of the Chief ExecutiveOfficer" to serve the functions of the Chief Executive Officer andPresident until such time that a permanent replacement for Mr.Mays is hired and (ii) appointed Thomas W. Casey, the currentExecutive Vice President and Chief Financial Officer of theCompany, CCU and CCOH, and Robert H. Walls, Jr., the currentExecutive Vice President, General Counsel and Secretary of theCompany, CCU and CCOH, to also serve in such newly-created officefor each of the Company, CCU and CCOH in addition to theirexisting offices which they will retain.

Mr. Casey, 48, has served as the Executive Vice President andChief Financial Officer of the Company, CCU and CCOH since Jan. 4,2010. Previously, Mr. Casey served as Executive Vice Presidentand Chief Financial Officer of Washington Mutual Inc. untilOctober 2008. Prior thereto, Mr. Casey served as Vice Presidentof General Electric Company and Senior Vice President and ChiefFinancial Officer of GE Financial Assurance since 1999. Mr. Caseywill continue to serve as the Executive Vice President and ChiefFinancial Officer of the Company, CCU and CCOH. There are nofamily relationships between Mr. Casey and any of the directorsand executive officers of the Company, and there are notransactions in which Mr. Casey has an interest requiringdisclosure under Item 404(a) of Regulation S-K.

Mr. Walls, 50, has served as the Executive Vice President, GeneralCounsel and Secretary of the Company, CCU and CCOH since Jan. 1,2010. Mr. Walls was a founding partner of Post Oak EnergyCapital, LP and served as Managing Director through Dec. 31, 2009,and remains an advisor to and a partner of Post Oak EnergyCapital, LP. Prior thereto, Mr. Walls was Executive VicePresident and General Counsel of Enron Corp., and a member of itsChief Executive Office from 2002 to September 2005. Priorthereto, he was Executive Vice President and General Counsel ofEnron Global Assets and Services, Inc., and Deputy General Counselof Enron Corp. Mr. Walls will continue to serve as the ExecutiveVice President, General Counsel and Secretary of the Company, CCUand CCOH. There are no family relationships between Mr. Walls andany of the directors and executive officers of the Company, andthere are no transactions in which Mr. Walls has an interestrequiring disclosure under Item 404(a) of Regulation S-K.

About CC Media and Clear Channel

San Antonio, Tex.-based CC Media Holdings, Inc. (OTC BB: CCMO)-- http://www.ccmediaholdings.com/-- is the parent company of Clear Channel Communications, Inc. CC Media Holdings is a globalmedia and entertainment company specializing in mobile and on-demand entertainment and information services for localcommunities and premier opportunities for advertisers. TheCompany's businesses include radio and outdoor displays.

CC Media has three reportable business segments: RadioBroadcasting; Americas Outdoor Advertising; and InternationalOutdoor Advertising. Approximately half of CC Media's revenue isgenerated from its Radio Broadcasting segment.

The Company reported a net loss of $462.8 million on$5.866 billion of revenue for the fiscal year ended Dec. 31, 2010,compared with a net loss of $4.049 billion on $5.552 billion ofrevenue for the fiscal year ended Dec. 31, 2009.

The Company's balance sheet at Dec. 31, 2010, showed$17.480 billion in total assets, $24.685 in total liabilities, anda stockholders' deficit of $7.205 billion.

Fitch said in November 2010, that its ratings concerns center onthe company's highly leveraged capital structure, with significantmaturities in 2014 and 2016; the considerable interest burden thatpressures free cash flow generation; technological threats andsecular pressures in radio broadcasting; and the company'sexposure to cyclical advertising revenue. The ratings aresupported by the company's leading position in both the outdoorand radio industries, as well as the positive fundamentals anddigital opportunities in the outdoor advertising space.

S&P said the 'CCC+' corporate credit rating on CC Media HoldingsInc. reflects the risks surrounding the longer-term viability ofthe company's capital structure--in particular, refinancing riskrelating to sizable secured debt maturities in 2014 ($3.2 billionpro forma for the transaction) and 2016 ($10.4 billion). In S&P'sview, the company has a satisfactory business risk profile, due toits position as the largest radio and global outdoor advertisingoperator, its good geographic and market diversity, and moderatelong-term growth prospects at the outdoor business. S&P views thefinancial risk profile as highly leveraged, given the company'ssignificant refinancing risk, roughly break-even EBITDA coverageof interest expense, and slim discretionary cash flow.

According to BData, the Plan's Disclosure Statement asserts,"Pursuant to prior orders of the Bankruptcy Court, the Debtorssold substantially all of their Assets to Champion EnterprisesHoldings, LLC and New Champion Homes, Inc., satisfied theobligations owing to their Prepetition Lenders for money borrowedbefore the Petition Date and their obligations for money borrowedpostpetition pursuant to the Debtor-in-Possession Credit Agreementdated as of Nov. 15, 2009 between CHBC and a syndicate of banks,financial institutions, and other institutional lenders, withCredit Suisse AG, Cayman Islands Branch, as administrative agentand obtained a commitment from the Buyer...for certain post-closing, wind-down liabilities of the Debtors. Under the Plan, theDebtors will transfer certain causes of action to a Creditor Trustthat will administer and liquidate them for the benefit of generalunsecured Creditors. The Plan provides for the full payment ofAdministrative Claims and Priority Claims. It is important tonote, however, that any recovery to general unsecured Creditors(Classes 5 and 6 under the Plan), will be entirely dependant onthe results of any prosecution of the Assigned Litigation. .ThePlan further provides for the substantive consolidation of all ofthe Debtors except CEI Liquidation Estate (formerly known asChampion Enterprises, Inc.), for voting and distribution purposes,the termination of all Equity Interests in the Debtors, and thedissolution and winding up of the Debtors' affairs."

About Champion Enterprises

Troy, Michigan-based Champion Enterprises, Inc., and itssubsidiaries are international manufacturers of factory-builthomes and steel-framed modular buildings, with operations in theUnited States, Canada and the United Kingdom. Buildingsconstructed by Champion and its subsidiaries consist of bothsingle and multi-module units designed for either commercial orresidential purposes. Champion products range from single-moduleHUD-Code homes to sophisticated commercial structures such ashotels.

Michael T. Studer CPA P.C., in Freeport, New York, expressedsubstantial doubt about the Company's ability to continue as agoing concern. Mr. Studer noted that, as of Dec. 31, 2010, and2009, the Company had a working capital deficit of $12,255,303 and$11,038,871, respectively. "The Company also had an accumulateddeficit of $5,949,928 as of Dec. 31, 2010."

The Company reported a net loss of $834,306 on $6.4 million ofrevenue for 2010, compared with a net loss of $814,928 on$6.3 million of revenue for 2009.

At Dec. 31, 2010, the Company's balance sheet showed $17.6 millionin total assets, $16.3 million in total liabilities, andstockholders' equity of $1.3 million.

Based in Jiangsu Province, China, China Ivy School, Inc., operatesan educational facility under the name "Blue Tassel School" whichprovides a comprehensive curriculum required by the government ofthe People's Republic of China, supplemented by a broad range ofelective courses which may be chosen from by the school'sstudents.

Bernstein & Pinchuk LLP, in New York, expressed substantial doubtabout China Ruitai's ability to continue as a going concern. Theindependent auditors noted that the Company has negative workingcapital.

The Company reported a net loss of $6.9 million on $43.2 millionof sales for 2010, compared with a net loss of $5.7 million on$35.7 million of sales for 2009.

At Dec. 31, 2010, the Company's balance sheet showed$111.0 million in total assets, $81.1 million in totalliabilities, and stockholders' equity of $29.9 million.

Shandong, China-based China Ruitai International Holdings Co.,Ltd., was organized under the laws of the State of Delaware onNov. 15, 1955, under the name "Inland Mineral Resources Corp."Currently, the Company, through its wholly-owned subsidiary,Pacific Capital Group Co., Ltd., a corporation incorporated underthe laws of the Republic of Vanuatu, and its majority-ownedsubsidiary, TaiAn RuiTai Cellulose Co., Ltd., a Chinese limitedliability company, is engaged in the production, sales, andexportation of deeply processed chemicals, with a primary focus onnon-ionic cellulose ether products in the People's Republic ofChina as well as to the United States, Europe, Japan, India andSouth Korea.

The Debtor did not file a list of its largest unsecured creditorstogether with its petition.

The petition was signed by Rhea Laws, president.

COATES INT'L: Trust, 2 Directors Convert Notes to Shares--------------------------------------------------------Coates International, Ltd., and The Coates Trust, a trustcontrolled by George J. Coates, President and CEO have agreed toconvert promissory notes in the aggregate amount of $198,136,including principal and interest, originally issued in 2010 into1,165,507 unregistered shares of common stock at the closing priceon March 31, 2011, of $0.17 per share. The Company and two of itsdirectors also agreed to convert promissory notes in the aggregateamounts of $188,258 and $131,484, including principal andinterest, originally issued in 2010 into 1,100,922 and 768,648unregistered shares of common stock, respectively, at the closingprice on April 1, 2011, of $0.171 per share. The cash proceedsfrom issuance of the promissory notes were used for workingcapital purposes.

Company CFO, Barry Kaye stated that the decision by The CoatesTrust and two of the Company's directors to convert theirpromissory notes is an expression of confidence in the Company tocarry out its business plans to manufacture and distribute theworld-wide patented Coates Spherical Rotary Valve systemtechnology products. The Company is also very pleased to bereducing the outstanding debt of the Company by almost $518,000.

About Coates International

Based in Wall Township, N.J., Coates International, Ltd.(OTC BB: COTE) -- http://www.coatesengine.com/-- was incorporated on August 31, 1988, for the purpose of researching, patenting andmanufacturing technology associated with a spherical rotary valvesystem for internal combustion engines. This technology wasdeveloped over a period of 15 years by Mr. George J. Coates, whois the President and Chairman of the Board of the Company.

The Coates Spherical Rotary Valve System (CSRV) represents arevolutionary departure from the conventional poppet valve. Itchanges the means of delivering the air and fuel mixture to thefiring chamber of an internal combustion engine and of expellingthe exhaust produced when the mixture ignites.

The Company reported a net loss of $1.05 million on $159,000 ofsales for the year ended Dec. 31, 2010, compared with a net lossof $806,756 on $0 of sales during the prior year.

The Company's balance sheet at Dec. 31, 2010 showed $2.99 millionin total assets, $4.11 million in total liabilities, and a$1.12 million in stockholders' deficiency.

Meyler & Company, LLC, in Middletown, New Jersey, expressedsubstantial doubt about the Company's ability to continue as agoing concern. The independent auditors noted that the Companycontinues to have negative cash flows from operations, recurringlosses from operations, and a stockholders' deficiency.

COMMONWEALTH BANKSHARES: Expects $52M Loss, Going Concern Doubt---------------------------------------------------------------Commonwealth Bankshares, Inc., discloses that its annual report onForm 10-K for the fiscal year ended Dec. 31, 2010, could not befiled within the prescribed time period without unreasonableeffort or expense.

For the year ended Dec. 31, 2010, the Company anticipatesreporting a loss of $51.8 million, which would represent anincrease in net loss of 101.1% from the $25.8 million lossreported for the comparable period in 2009.

The Company also expects to report that the Company and Bank ofthe Commonwealth were considered "undercapitalized" as of Dec. 31,2010.

The Company is currently working on a capital plan to increase thecapital to return to a "well capitalized" status.

Due to the Company's 2010 financial results, the substantialuncertainty throughout the U.S. banking industry, the writtenagreement the Company has executed with its federal and statebanking regulators and Bank of the Commonwealth's undercapitalizedstatus, the Company expects the report of the Company'sindependent auditors on the Company's consolidated financialstatements to contain an explanatory paragraph indicating thatcurrent conditions raise substantial doubt with respect to theCompany's ability to continue as a going concern.

Norfolk, Va.-based Commonwealth Bankshares, Inc., (Nasdaq:CWBS)-- http://www.bankofthecommonwealth.com/-- is the parent of Bank of the Commonwealth which opened its first office in Norfolk,Virginia, in 1971. Bank of the Commonwealth has 21 bank branchesstrategically located throughout the Hampton Roads and EasternNorth Carolina regions.

COMMUNITY BUILDERS: Ohio Apartments in Chapter 11-------------------------------------------------Eric Sanderson at BankruptcyHome.com reports that City West, a 10year-old, 686-unit apartment complex in Cincinnati, Ohio, filedfor bankruptcy on behalf of its owners, The Community BuildersInc. The Company has eight real estate partnerships at thehousing project, and the filing was in regard to two of thosepartnerships.

A previous ruling ordered TCB, a Boston, Massachusetts-based non-profit organization, to give up ownership in favor of TowneProperties, but that was nullified by the filing, Cincinnati-areanews source the Business Courier reported. The three outstandingpartnerships were at risk of having their units foreclosed upon,as the Company owes PNC Bank $5.7 million in loans, according toBankruptcyHome. The courts are giving TCB extra time to deal withits bankruptcy situation, and reorganize its finances.

COMMUNITY CENTRAL: Sees $17-Mil. Loss, Going Concern Doubt----------------------------------------------------------Community Central Bank Corporation was not able to file a timelyAnnual Report on Form 10-K for the year ended Dec. 31, 2010 by theprescribed due date without unreasonable effort and expense. Dueto significant and unprecedented deterioration in economicconditions during the past couple of years, particularly in itsMichigan market area, specifically weakened conditions in thehousing and commercial real estate markets, including falling realestate prices, increasing foreclosures and rising unemployment,the Company has experienced a dramatic increase in its non-performing assets, significant losses and a decrease in itscapital. The Company has also been subject to increasedregulatory scrutiny due to its financial condition. As a result,the completion of the Company's financial statements has requiredmore time due to resource constraints and regulatory and capitalissues of the Company, including its wholly-owned subsidiary,Community Central Bank. Further, it is unlikely that the Companywill be able to file its 2010 Form 10-K by April 15, 2011, if atall.

The Company believes substantial doubt exists as to its ability tocontinue as a going concern. The Company has determined thatsignificant additional sources of capital will be required for itto continue operations through 2011 and beyond. The Company haspreviously engaged financial advisors to assist in its efforts toraise additional capital and explore strategic alternatives toaddress the Company's current and expected capital deficiencies.To date, they have been unsuccessful. As a result of theCompany's financial condition, the Company's regulators arecontinually monitoring its capital adequacy. Based on theirassessment of the Company's ability to continue to operate in asafe and sound manner, the Company's regulators may take otheractions, including further enforcement actions, capital directivesor even assumption of control of the Bank, to protect theinterests of depositors insured by the FDIC. If the Bank isplaced into FDIC receivership, it is highly likely that theCompany would be required to cease operations. If the Companywere to cease operations, the Company does not believe that therewould be any assets available to the holders of capital stock ofthe Company.

The Company expects that its results of operations for the yearended Dec. 31, 2010 will continue to show significant losses, asthe Company experienced in 2009. The Company report losses forthe first nine months of 2010 of $12.2 million, before dividendson preferred shares. The Company estimates losses for the fourthquarter and year ended Dec. 31, 2010, based on unaudited financialinformation, to be approximately $4.8 million and $17.0 million,before dividends on preferred shares, respectively.

Community Central Bank's ratio of total capital to risk-weightedassets was 3.67% and its ratio of Tier 1 capital to total assetswas 1.66% as of Dec. 31, 2010, which caused the Bank to be deemed"critically undercapitalized" as of that date under regulatorycapital guidelines. The Bank's ratio of Tier 1 capital to risk-weighted assets was 2.37% as of Dec. 31, 2010. In order to be"adequately capitalized" under regulatory capital guidelines, aninstitution's ratios of total capital to risk-weighted assets,Tier 1 capital to risk-weighted assets and Tier 1 capital toaverage assets must be at least 8.0%, 4.0% and 4.0%, respectively.

About Community Central

Community Central Bank Corporation is the holding company forCommunity Central Bank in Mount Clemens, Michigan. The Bankopened for business in October 1996 and serves businesses andconsumers across Macomb, Oakland, St. Clair and Wayne countieswith a full range of lending, deposit, trust, wealth managementand Internet banking services. The Bank operates four fullservice facilities in Mount Clemens, Rochester Hills, GrossePointe Farms and Grosse Pointe Woods, Michigan. Community CentralMortgage Company, LLC, a subsidiary of the Bank, operateslocations servicing the Detroit metropolitan area and central andnorthwest Indiana. River Place Trust and Community Central WealthManagement are divisions of Community Central Bank. CommunityCentral Insurance Agency, LLC, is a wholly owned subsidiary ofCommunity Central Bank. The Corporation's common shares currentlytrade on The NASDAQ Capital Market under the symbol "CCBD".

The Company's balance sheet at Sept. 30, 2010, showed$513.7 million in total assets, $501.6 million in totalliabilities, and stockholders' equity of $12.1 million.

"As of Sept. 30, 2010, due to the Corporation's significantnet loss from operations in the three and nine months endedSept. 30, 2010, deterioration in the credit quality of theloan portfolio, and the decline in the level of its regulatorycapital to support operations, there is substantial doubt aboutthe Corporation's ability to continue as a going concern," theCorporation said in its Form 10-Q for the quarter ended Sept. 30,2010.

The Bank is currently subject to a "consent order" with theFederal Deposit Insurance Corporation and the Michigan Office ofFinancial and Insurance Regulation and is "significantlyundercapitalized" under the FDIC's prompt corrective action (PCA)rules and accordingly is operating under significant operatingrestrictions. The Consent Order requires Community Central Bankto take corrective measures in a number of areas to strengthen andimprove the Bank's financial condition and operations. TheConsent Order is effective as of November 1, 2010. By enteringinto the Consent Order, the Bank is directed and has agreed toincrease board oversight and conduct an independent study ofmanagement, improve regulatory capital ratios, charge-off certainclassified assets, reduce its level of loan delinquencies andproblem assets, limit lending to certain borrowers, revise lendingand collection policies, adopt and implement new profit, strategicand liquidity plans, and correct loan underwriting and creditadministration deficiencies. The Consent Order also requires theBank to obtain prior regulatory approval before the payment ofcash dividends or the appointment of any senior executive officersor directors. The Bank also is not allowed to accept brokereddeposits without a waiver from the FDIC and must comply withcertain deposit rate restrictions.

COMPLIANCE SYSTEMS: Delays Filing of 2010 Annual Report-------------------------------------------------------Compliance Systems Corporation recently divested itself ofsubstantially all of its assets in connection with itssatisfaction of obligations due a secured creditor. In connectionwith such divestiture, the Company's then chief executive officerceased to be employed by the Company, leaving the Company withonly one executive officer. Furthermore, the divestiture hasresulted in a number of transactions requiring detailed analysisunder applicable accounting principles. Such analysis is ongoing.Accordingly, the Company is unable to file the subject Form 10-Kon a timely basis without unreasonable effort and expense.

About Compliance Systems

Headquartered in Glen Cove, New York, Compliance SystemsCorporation operates its principal businesses through two of itssubsidiaries, Call Compliance, Inc. and Execuserve Corp.

CONQUEST PETROLEUM: Delays Filing of 2010 Annual Report-------------------------------------------------------Conquest Petroleum Incorporated said that its Annual Report onForm 10-K for the fiscal year ended Dec. 31, 2010, cannot be filedwithin the prescribed time period because it requires additionaltime for compilation and review to ensure adequate disclosure ismade of certain information required to be included in the Form10-K. The Company's Annual Report on Form 10-K will be filed onor before the 15th calendar day following the prescribed due date.

About Conquest Petroleum

Spring, Tex.-based Conquest Petroleum Incorporated (OTC BB: CQPT)-- http://www.conquestpetroleum.com/-- is an independent oil and natural gas company engaged in the production, acquisition andexploitation of oil and natural gas properties geographicallyfocused on the onshore United States. The Company's operationalfocus is the acquisition, through the most cost effective meanspossible, of production or near production of oil and natural gasfield assets. The Company's areas of operation include Louisianaand Kentucky.

The Company's balance sheet at Sept. 30, 2010, showed$2.48 million in total assets, $27.31 million in totalliabilities, and a stockholders' deficit of $24.82 million.

As reported in the Troubled Company Reporter on Aug. 5, 2010, M&KCPAS, PLLC, in Houston, expressed substantial doubt about theCompany's ability to continue as a going concern, following theCompany's 2009 results. The independent auditors noted that theCompany has insufficient working capital and recurring losses fromoperations.

COUNTRYVIEW MHC: Submits Chapter 11 Plan of Reorganization----------------------------------------------------------Countryview MHC Limited Partnership has submitted to the UnitedStates Bankruptcy Court for the Northern District of IllinoisEastern Division its Chapter 11 Plan of Reorganization and anaccompanying disclosure statement.

The Plan provides for distributions to the holders of allowedclaims from funds realized from the continued operation of theDebtor's business as well as from existing cash deposits and cashresources of the Debtor. To the extent necessary, the payment toBank of America, as successor by merger to LaSalle Bank NationalAssociation, in its capacity as trustee for the registered holdersof LB-UBS Commercial Mortgage Trust 2006-C4, Commercial MortgagePass-Through Certificate, Series 2006-C4, as required by the Plan,may be paid from the proceeds of the refinancing of the underlyingmortgage indebtedness due to Lender or from the sale of amanufactured home community owned by the Debtor, consisting ofapproximately 275 sites, situated on approximately 59.02 acres,located at 1199 Hospital Road, Franklin, Indiana.

The Plan has one category of administrative claims, one categoryof tax claims, five Classes of creditors and one class ofinterests.

Administrative Claims are unimpaired under the Plan and primarilyconsist of allowed claims comprised of fees and expenses of thevarious professionals employed pursuant to orders entered by theCourt. The Debtor owes its counsel, Crane Heyman Simon Welch &Clar, $40,000 in fees and expenses.

Tax Claims will be paid in full, in cash inclusive of interest atthe applicable statutory interest rate on the Effective Date,unless the holder of a Tax Claim agrees to a different treatment.

The Lender has filed a proof of claim amounting approximately$11,704,158, plus unpaid interest, costs, expenses and othercharges, as of November 29, 2010, with respect to its mortgageindebtedness. The actual allowed amount of the Class 1 Claims maybe determined pursuant to a further Court order if the Debtor hasobjections to the allowance of the Class 1 Claims.

Under the Plan, the Allowed Class 1 Claims are treated in thismanner: Adequate Protection Payments received by Lender during thecourse of this Chapter 11 case will be applied according tothis priority:

(1) Payment of interest due to Lender on the principal indebtedness due at the non-default interest rate provided for in its loan documents;

(2) Payment of any pre-petition unpaid arrearage due to Lender under its loan documents;

(3) Payment of Lender's professional fees and costs to the extent allowable under its loan documents, and approved by the Court; and

(4) Payment of the balance, if any, to reduce the principal balance due on the Allowed Class 1 Claims.

In full satisfaction, settlement, release, and discharge of and inexchange for the Allowed Claims in Class 1, the holder of theAllowed Class 1 Claims will receive or retain its liens on thereal and personal property owned by the Debtor.

Unsecured Creditors, who hold approximately $86,220, are theholders of Allowed Class 4 Claims and are impaired under the Plan.The Allowed Class 4 Claims will accrue interest at an annual rateof 5.66% and will be paid interest only on a monthly basis forfive years computed on actual days/360 day year. Monthlyprincipal and interest payments commence in year six based on a5.66% annual interest rate and an eight year amortization schedulewith a final balloon payment of approximately $25,331 due the lastday of the 11th year.

Upon the occurrence of a certain "Trigger Event" a new plan willbe implemented allowing for an earlier balloon payment. Allinterest payments are made monthly in arrears payable on the15th day of each month with the first payment due on the 15th dayof the month after the Effective Date.

The plan implemented due to the Trigger Event will be in effectuntil the Allowed Class 4 Claims are paid in full, which willoccur prior to the implemented plan's maturity date upon theoccurrence of the refinancing or sale of Property. Increases inscheduled payments in accordance with the newly implemented planonly apply to scheduled monthly payments after the Trigger Date.

Payment of the unpaid amount of the Allowed Class 4 Claims maybe made in whole or in part, from time to time, without penalty orcharge at the sole and exclusive option of the Debtor.

With regard to Richard J. Klarchek's claim amounting $13,103,921,no payments will be made on that claim until all other creditorsare paid in full pursuant to the terms of the Plan.

The Debtor's general partner, Countryview MHC Corp., which holds a1% interest and the Debtor's limited partner, The Klarcheck FamilyTrust, which holds a 99% Interest are the holders of the AllowedClass 6 Interests. Under the Plan, they will retain their equityinterests in the Debtor after Confirmation of the Plan.

Except as otherwise ordered by the Bankruptcy Court or asotherwise provided in the Plan, the Debtor will file any and allobjections to the allowance of Claims or Interests on or within120 days after confirmation of the Plan unless extended by theCourt. Cause shall not be a requirement for an extension of thedeadline.

Kingery & Crouse PA, in Tampa, Florida, expressed substantialdoubt about Creative Vistas' ability to continue as a goingconcern. The independent auditors noted that the Company hassuffered recurring losses from operations and has working capitaland stockholder deficiencies.

The Company reported a net loss of $681,807 on $39.87 million ofrevenues for 2010, compared with a net loss of $1.60 million on$39.77 million of revenues for 2009.

At Dec. 31, 2010, the Company's balance sheet showed$11.27 million in total assets, $25.65 million in totalliabilities, and a stockholders' deficit of $14.38 million.

CRYOPORT INC: Files Form S-1; Registers 40.94MM Common Shares-------------------------------------------------------------Cryoport, Inc., filed with the U.S. Securities and ExchangeCommission a Form S-1 registration statement relating to theoffering by the existing holders of the Company's common stock of39,276,511 shares of the Company's common stock, par value $0.001per share, including 22,249,780 shares of the Company's commonstock issuable upon exercise of the warrants held by the sellingsecurity holders.

The prospectus also relates to the issuance of 1,666,667 shares ofcommon stock upon exercise of certain publicly traded warrants,that were issued as part of a public offering of units (each unitconsisting of one share of common stock and one warrant topurchase on share of common stock at an exercise price of $3.30per share) and the resale of those shares of common stock. It isanticipated that the selling security holders will sell theseshares of common stock from time to time in one or moretransactions, in negotiated transactions or otherwise, atprevailing market prices or at prices otherwise negotiated. TheCompany will not receive any proceeds from the sales of shares ofcommon stock by the selling security holders. The Company hasagreed to pay all fees and expenses incurred by it incident to theregistration of the Company's common stock, including SEC filingfees. Each selling security holder will be responsible for allcosts and expenses in connection with the sale of their shares ofcommon stock, including brokerage commissions or dealer discounts.

The Company's common stock and Traded Warrants are currentlytraded on the Over-The-Counter Bulletin Board, commonly known asthe OTC Bulletin Board, under the symbols "CYRX" and "CYRXW." Asof March 30, 2011, the closing sale price of the Company's commonstock and Traded Warrants were $1.46 per share and $0.20 perTraded Warrant, respectively.

CRYSTALLEX INT'L: Lowers Net Loss to $48.2-Mil. in 2010-------------------------------------------------------Crystallex International Corporation reported its financialresults for the year ended Dec. 31, 2010.

Crystallex entered into a Mine Operating Contract in September2002 with the Corporacion Venezolana de Guayana. The MOC grantedCrystallex exclusive rights to develop and operate the LasCristinas gold properties located in Bolivar State, Venezuela.Since the issuance of the MOC, the Company has worked vigorouslyto bring the Las Cristinas Project to a "shovel ready" state. TheCompany completed all of the requirements necessary for theissuance of the Authorization to Affect Natural Resources from theMinistry of Environment and Natural Resources while maintainingcompliance with the terms of the MOC. Notwithstanding theCompany's fulfillment of the requisite conditions, Venezuela'sapproval of the Environmental Impact Study and assurances that thePermit would be issued, in April 2008, MinAmb denied the Company'srequest for the Permit.

On Feb. 3, 2011, the MOC was unilaterally terminated by the CVG,despite the CVG confirming the validity of the MOC in August 2010.

On Feb. 16, 2011, the Company filed a Request for Arbitrationbefore the Additional Facility of the World Bank's InternationalCentre for Settlement of Investment Disputes against theBolivarian Republic of Venezuela pursuant to the Agreement betweenthe Government of Canada and the Government of the Republic ofVenezuela for the Promotion and Protection of Investments. Theclaim is for breach of the Treaty's protections againstexpropriation, unfair and inequitable treatment anddiscrimination. The Arbitration Request was registered by ICSIDon March 9, 2011.

Crystallex is seeking the restitution by Venezuela of itsinvestments, including the MOC, and the issuance of the Permit andcompensation for interim losses suffered, or, alternatively fullcompensation for the value of its investment in an amount inexcess of US$3.8 billion.

* Negotiate with the Noteholders to restructure the terms of the $100 million Notes that are due in December 2011; and

* Pursue alternate financing.

Liquidity and Capital Resources

* Cash and cash equivalents at Dec. 31, 2010 was $16.1 million.

Financial Results

* Losses from continuing operations were $46.1 million ($(0.14) per share) and $312.7 million ($(1.06) per share) for the years ended Dec. 31, 2010 and 2009, respectively.

* Losses from discontinued operations at El Callao were $2.1 million ($(0.01) per share) and $1.2 million ($(0.01) per share) for the years ended Dec. 31, 2010 and 2009, respectively.

* The resulting losses from continuing and discontinued operations were $48.2 million ($(0.15) per share) and $313.9 million ($(1.07) per share) for the years ended Dec. 31, 2010 and 2009, respectively.

About Crystallex International

Based in Toronto, Canada, Crystallex International Corporation(TSX: KRY) (NYSE Amex: KRY) -- http://www.crystallex.com/-- is a Canadian-based company, which has been granted the Mine OperatingContract to develop and operate the Las Cristinas gold propertieslocated in Bolivar State, Venezuela.

The Company's balance sheet at Sept. 30, 2010, showedUS$63.62 million in total assets, US$108.10 million in totalliabilities, and a stockholders' deficit of US$44.48 million.

"As at Sept. 30, 2010, the Company had working capital ofUS$12.50 million, including cash of $21.47 million. Managementestimates that these funds will be sufficient to meet theCompany's obligations and budgeted expenditures for theforeseeable future, but will not be sufficient to repay theUS$100.00 million notes payable due on December 23, 2011."

Webb & Company, in Boynton Beach, Florida, expressed substantialdoubt about CUI Global's ability to continue as a going concern.The independent auditors noted that the Company has a net loss of$7,015,896, a working capital deficiency of $675,936 and anaccumulated deficit of $73,596,738 at Dec. 31, 2010.

The Company reported a net loss of $7.5 million on $40.9 millionof revenues for 2010, compared with a net loss of $16.0 million on$28.9 million of revenues for 2009.

At Dec. 31, 2010, the Company's balance sheet showed $35.9 millionin total assets, $23.9 million in total liabilities, andstockholders' equity of $12.0 million.

Tualatin, Ore.-based CUI Global, Inc., formerly known as Waytronx,Inc., is a platform company dedicated to maximizing shareholdervalue through the acquisition, development and commercializationof new, innovative technologies.

KPMG LLP, in Pittsburgh, Pa., expressed substantial doubt aboutCybex International's ability to continue as a going concern. Theindependent auditors noted that a December 2010 jury verdict in aproduct liability suit apportions a significant amount ofliability to the Company. "The Company does not have theresources to satisfy a judgment in this matter that has not beensubstantially reduced from the jury verdict, which raisessubstantial doubt about the Company's ability to continue as agoing concern."

On Dec. 7, 2010, the jury in the Barnhard v. Cybex International,Inc. product liability suit returned a $66 million verdict,apportioned 75% to Cybex, 20% to a non-affiliated co-defendant and5% to the plaintiff. Under New York law, Cybex would beresponsible for payment of 95% of any judgment entered on thisverdict and may then seek to collect 20% of such judgment from theco-defendant. The Company intends to vigorously pursue allavailable options to seek a reversal or reduction of the verdictand any judgment that is ultimately entered on the verdict.

The Company reported a net loss of $58.2 million on $123.0 millionof sales for 2010, compared with a net loss of $2.4 million on$120.5 million of sales for 2009.

Results for 2010 included $46.0 million in pre-tax litigationcharges related to the product liability jury award discussedabove, and a $12.7 million incremental tax provision, primarilydue to the valuation allowance recorded against deferred taxassets as a result of the uncertainty of realization caused by thelitigation charge.

At Dec. 31, 2010, the Company's balance sheet showed $85.4 millionin total assets, $100.4 million in total liabilities, and astockholders' deficit of $15.0 million.

CYTOCORE INC: Delays Filing of 2010 Annual Report-------------------------------------------------CytoCore Inc. was unable to timely file its Annual Report on Form10-K for the year ended Dec. 31, 2010 due to delays experienced inthe collection and compilation of certain information required tobe included in the Annual Report. The Company intends to file theAnnual Report with the Securities and Exchange Commission withinthe fifteen-day extension period provided under Rule 12b-25 of theSecurities Exchange Act of 1934, as amended.

About Cytocore Inc.

Headquartered in Chicago, Illinois, CytoCore Inc. (OTC BB: CYOE)-- http://www.cytocoreinc.com/-- is a biomolecular diagnostics company engaged in the design, development, and commercializationof cost-effective screening systems to assist in the earlydetection of cancer. CytoCore(R) is currently focused on thedesign, development, and marketing of its CytoCore Solutions(TM)System and related image analysis platform. The CytoCoreSolutions(TM) System and associated products are intended todetect cancer and cancer-related diseases, and may be used in alaboratory, clinic, or doctor's office.

The Company's balance sheet as of Sept. 30, 2010, showed$2.6 million in total assets, $5.7 million in total liabilities,all current and a stockholders' deficit of $3.1 million.

DAIS ANALYTIC: To Restate 2009 Annual Report to Correct Errors--------------------------------------------------------------Dais Analytic Corporation concluded that the audited financialstatements included in the Company's Form 10-K as filed with theSecurities and Exchange Commission on March 30, 2010, for the yearended Dec. 31, 2009 should no longer be relied upon.

The Company's Chief Executive Officer and the Financial Officeridentified a material weakness in the Company's internal controlsover financial reporting relating to the accounting and disclosurefor complex and non-standard common stock warrant transactions.The Company applied the guidance of Accounting StandardsCodification 815-40 (ASC 815-40) and recorded an additionalexpense of $3,731,694 for the year ended Dec. 31, 2009 that wasnot previously reported. The warrants had been issued in December2007, January 2008 and August 2008, in connection with convertiblepromissory notes and were originally accounted for as an equityinstrument. Upon further review of the warrants, it wasdetermined that these warrants were not indexed to the Company'sstock and therefore required derivative accounting treatment.

The Chief Executive Officer and the Financial Officer of theCompany discussed with the Company's independent auditor, Cross,Fernandez & Riley, LLP and determined that due to the materialityof the transaction, the Company should restate its financialstatements included in Form 10K as filed on March 30, 2010, forthe year ended Dec. 31, 2009 to reflect the proper accountingtreatment. The Company has included the restated financialstatements for the year ended Dec. 31, 2009 in its Annual Reporton Form 10-K for the fiscal year ended Dec. 31, 2010. The Companyplans to amend its Annual Report on Form 10-K for the year endedDec. 31, 2009 by filing an amendment on Form 10-K/A.

About Dais Analytic

Odessa, Fla.-based Dais Analytic Corporation has developed andpatented a nano-structure polymer technology, which is beingcommercialized in products based on the functionality of thesematerials. The initial product focus of the Company is ConsERV,an energy recovery ventilator. The Company also has new productapplications in various developmental stages.

The Company reported a net loss of $1.43 million on $3.34 millionof revenue for the year ended Dec. 31, 2010, compared with a netloss of $7.12 million on $1.53 million of revenue during the prioryear.

The Company's balance sheet at Dec. 31, 2010 showed $1.97 millionin total assets, $8.69 million in total liabilities and $6.72million in total stockholders' deficit.

Cross, Fernandez & Riley LLP, in Orlando, Fla., expressedsubstantial doubt about the Company's ability to continue as agoing concern, following the Company's 2010 financial results.The independent auditors noted that the Company has incurredsignificant losses since inception and has a working capitaldeficit and stockholders' deficit of $2,861,448 and $6,722,092 atDec. 31, 2010.

DENNY'S CORPORATION: Board OKs 6-Mil. Shares Repurchase Program---------------------------------------------------------------Denny's Corporation announced that its Board of Directors hasapproved a new share repurchase program authorizing the Company torepurchase up to 6 million shares of its common stock. Under theprogram, the Company may purchase common stock from time to timein the open market or in privately negotiated transactions.

In addition, the Company announced that it has completed itsprevious 3 million share stock repurchase program announcedNov. 9, 2010.

The amount and timing of any purchases will depend upon a numberof factors, including the price and availability of the Company'sshares, trading volume and general market conditions. As ofMarch 30, 2011, the Company had 98,817,552 shares of common stockoutstanding.

About Denny's Corporation

Based in Spartanburg, South Carolina, Denny's Corporation (NASDAQ:DENN) -- http://www.dennys.com/-- Denny's is one of America's largest full-service family restaurant chains, consisting of 1,348franchised and licensed units and 232 company-owned units, withoperations in the United States, Canada, Costa Rica, Guam, Mexico,New Zealand and Puerto Rico.

The Company's balance sheet at Dec. 29, 2010, showed$311.21 million in total assets, $414.92 million in totalliabilities and a $103.71 million shareholders' deficit.

Denny's carries 'B2' corporate family and probability of defaultratings from Moody's Investors Service and a 'B+' corporate creditrating from Standard & Poor's.

DIGUANG INTERNATIONAL: Recurring Losses Cue Going Concern Doubt---------------------------------------------------------------Diguang International Development Co., Ltd., filed on March 31,2011, its annual report on Form 10-K for the fiscal year endedDec. 31, 2010.

Based in Shenzhen, the PRC, Diguang International Development Co.,Ltd. (OTC BB: DGNG) - http://www.diguangintl.com/-- specializes in the design, production and distribution of Light EmittingDiode, "LED", and Cold Cathode Fluorescent Lamp, "CCFL",backlights for various Thin Film Transistor Liquid CrystalDisplays, "TFT-LCD", and Super-Twisted Nematic Liquid CrystalDisplay, "STN-LCD", Twisted Nematic Liquid Crystal Display, "TN-LCD", and Mono LCDs as well as the LED lighting, LED displays andLED TV sets. A backlight is the typical light source of a liquidcrystal display (LCD), with applications spanning televisions,computer monitors, cellular phones, digital cameras, DVDs andother home appliances.

DISCOVERY INSURANCE: AM Upgrades Issuer Credit Rating to 'BB'-------------------------------------------------------------A.M. Best Co. has upgraded the financial strength rating to B(Fair) from B- (Fair) and issuer credit rating to "bb" from "bb-"of Discovery Insurance Company (DIC) (Kinston, NC). The outlookfor both ratings is stable.

Nonetheless, DIC's ratings recognize its historically volatileoperating results, changing business profile, high common stockleverage measure and fluctuating loss reserve development inits workers' compensation business. Furthermore, the ratingsacknowledge DIC's dependence on reinsurance and single-statefocus that exposes the company to judicial, regulatory andcompetitive market pressures.

DJSP ENTERPRISES: Delays Filing of 2010 Annual Report-----------------------------------------------------As previously disclosed, DJSP Enterprises, Inc., has experienced asignificant decline in its business. Due to its now limitedfinancial and personnel resources, management of the Company hasnot been able to complete the preparation of all of the financialand business information necessary to complete the Company'sAnnual Report on Form 10-K for the fiscal year ended Dec. 31,2010, including the Company's financial statements and notesthereto required to be included in the Annual Report. As a resultof this delay, the Company is unable to file its Annual Report onForm 10-K within the prescribed time period without unreasonableeffort or expense.

About DJSP Enterprises

Based in Plantation, Florida, DJSP Enterprises, Inc. (Nasdaq:DJSP, DJSPW, DJSPU) provides a wide range of processing servicesin connection with mortgages, mortgage defaults, title searchesand abstracts, REO (bank-owned) properties, loan modifications,title insurance, loss mitigation, bankruptcy, related litigationand other services. Its principal customer is The Law Offices ofDavid J. Stern, P.A. It has additional operations in Louisville,Kentucky and San Juan, Puerto Rico. Its U.S. operations aresupported by a scalable, low-cost back office operation in Manila,the Philippines, that provides data entry and document preparationsupport for its U.S. operations.

As reported in the Jan. 20, 2011 edition of the TCR, DAL Group,LLC, a subsidiary of DJSP Enterprises, has obtained waivers onnotes held by these parties for payments due through April 1,2011:

The waivers were sought by DAL as it develops and implements plansto restructure its ongoing operations to reflect its significantlyreduced revenues and operations and the other changes.

DAL did not make the interest payments due Jan. 3, 2011 for (i)unsecured term notes in the aggregate principal amount of$1,600,000 (ii) and a $500,000 term note issued by CornixManagement, LLC. DAL is seeking waivers from the holders of theunsecured notes and Cornix of principal and interest paymentsotherwise due under these notes, and the default interest ratesunder these notes, through April 1, 2011.

DAL has entered into a forbearance agreement with BA NoteAcquisition, LLC, pursuant to which BNA has agreed to forbear fromtaking action on a $5.5-million line of credit until March 9,2011.

DOMINION CLUB: Club Members Want to Recover Deposits----------------------------------------------------Michael Schwartz at Richmond BizSense reports that members ofDominion Club are asking the bankruptcy court to help them gettheir initiation deposits -- as much as $22,000 per person -- backfrom the club's developer and owners.

According to the report, the bankruptcy creditors committee, madeup of seven current and former Dominion Club members, filed alawsuit in federal bankruptcy court seeking $11.6 million fromvarious entities, all tied to HHHunt Corp., one of the area'slargest real estate developers.

The committee claims in the suit that Hunt and the other entitieshave always supported the Dominion Club's operations and itsdeficits and that initiation refunds due now and more than $10million due down the road should also be paid by the owners.

The Dominion Club, L.C., filed for Chapter 11 protection (Bankr.E.D. Va. Case No. 11-30187) in Richmond, Virginia, on Jan. 11,2011. Christian K. Vogel, Esq., and Vernon E. Inge, Jr., Esq., atLeclairryan, in Richmond, serves as counsel to the Debtor. In itsbankruptcy petition, the Debtor estimated its assets in the$1 million to $10 million range and liabilities in the $10 millionto $50 million range.

The Company did not file a list of creditors together with itspetition.

The petition was signed by Jeffrey Dean, president.

DRYSHIPS INC: Ocean Rig to Offer $500MM of Sr. Unsecured Bonds--------------------------------------------------------------DryShips Inc. announced that its majority-owned subsidiary OceanRig UDW Inc., intends to offer through a private placement,subject to market and other conditions, approximately $500 millionof Senior Unsecured Bonds due 2016. The offering will be made toNorwegian professional investors and eligible counterparties asdefined in the Norwegian Securities Trading Regulation 10-2 to10-4, to non-United States persons in offshore transactions inreliance on Regulation S under the Securities Act of 1933, asamended and in a concurrent private placement in the United Statesonly to qualified institutional buyers pursuant to Rule 144A underthe Securities Act.

The proceeds of the offering are expected to be used to financeOcean Rig's newbuilding drillships program and general corporatepurposes.

The Bonds have not been registered under the Securities Act or thesecurities laws of any other jurisdiction and may not be offeredor sold in the United States or to or for the benefit of U.S.persons unless so registered except pursuant to an exemption from,or in a transaction not subject to, the registration requirementsof the Securities Act and applicable securities laws in otherjurisdictions.

DryShips's common stock is listed on the NASDAQ Global SelectMarket where it trades under the symbol "DRYS".

The Company's balance sheet at Sept. 30, 2010, showedUS$5.80 million in total assets, US$1.90 million in total currentliabilities, US$1.10 million in total noncurrent liabilities, andstockholders' equity of US$2.80 million.

On November 25, 2010, DryShips Inc. entered into a waiver letterfor its US$230.0 million credit facility dated September 10, 2007,as amended, extending the waiver of certain covenants throughDec. 31, 2010.

As reported in the Troubled Company Reporter on Sept. 29, 2010,the Company said it is currently in negotiations with its lendersto obtain waivers, waiver extensions or to restructure its debt.As of June 30, 2010, the Company's theoretical exposure (currentportion of long-term debt less cash and cash equivalents lessrestricted cash) amounted to US$761.4 million.

DS WATERS: Moody's Holds B3 Corp. Family Rating, Outlook Negative-----------------------------------------------------------------Moody's Investors Service changed the rating outlook of DS Watersof America, Inc. (DSWA) to negative from stable reflecting concernregarding significant debt maturities which must be refinancedwithin the next year. At the same time, Moody's affirmed all ofDSWA's ratings including the B3 corporate family rating (CFR).

These following ratings have been affirmed:

-- B3 Corporate Family Rating;

-- B3 Probability of Default Rating;

-- The Ba3 (LGD1, 9% from LGD2, 11%) on the $20 million senior secured revolver due October 2011; and

-- The Ba3 (LGD1, 9% from LGD2, 11%) on the $163 million senior secured term loan due October 2012.

Ratings Rationale

The negative outlook reflects the near term liquidity pressuresarising from DSWA's decision to wait until the second half of2011 to refinance its capital structure despite significant debtmaturities in early 2012. With the maturity of DSW Holdings'$300 million term loan (unrated) and DSW Group's $344 millionPIK note (unrated) approaching in March 2012 and April 2012,respectively, the delay in refinancing is viewed as aggressivesince DSWA does not currently maintain adequate liquidity reservesto fund the maturities without accessing debt or equity capitalmarkets.

DSWA has no borrowings on its $20 million revolver and $80 millionABL (unrated) which mature in October 2011. Moody's expects thatcash balances will be adequate to cash collateralize outstandingletters of credit if the facilities were allowed to mature withoutbeing replaced.

DSWA's operating performance remains under pressure from highunemployment levels, home foreclosures and personal bankruptciesin North America, a shift in mix to lower priced water bottlesand increased resin and fuel costs. Moody's anticipates thatimproving macroeconomic conditions in 2011, coupled with recentpricing actions, will be supportive of earnings stabilization inthe second half of 2011. Moody's expects steady revenues anda modest decline in profitability in the first half of 2011.Failure to stabilize earnings in 2011 would likely increaseDSWA's already elevated refinancing risk.

While ongoing concerns regarding the refinancing risk drives thenegative outlook, the B3 corporate family rating reflects DSWA'ssignificant financial leverage, including holding company debt,and solid cash interest coverage. The rating also acknowledgesthe company's positive free cash flow generation and meaningfulcash balances, solid earnings and leading market position in thefragmented US home-office water delivery market. Debt-to-EBITDA ofapproximately 5.5x, net of cash balances, is in line with the B3rating category. These factors are supportive of a successfulrefinancing of the capital structure.

The ratings could be downgraded if the company fails to refinancethe capital structure by the end of the third quarter of 2011.Further, the inability to stabilize earnings and/or the reductionin cash reserves below $100 million, for purposes other than debtreduction, could have negative rating ramifications. The outlookwould likely be changed to stable if revenue and earningsstabilize and the company successfully refinances the capitalstructure.

The last rating action on DSWA was the May 5, 2010 action thatconfirmed the CFR and PDR at B3.

The principal methodologies used in this rating were Global SoftBeverage published in December 2009, and Loss Given Default forSpeculative-Grade Non-Financial Companies in the U.S., Canada andEMEA published in June 2009.

DS Waters of America, headquartered in Atlanta, Georgia, is aprovider of bottled water and related services delivered directlyto residential and commercial customers in the U.S. Its corebusiness is the bottling and direct delivery of drinking water in3 and 5 gallon bottles to homes and offices and the rental ofwater dispensers. The company also sells water in smallerbottles, cups, coffee, flavored beverages and powdered sticks, andsells water filtration devices. Revenues for the twelve monthsended Dec. 31, 2010, were approximately $750 million.

DUNE ENERGY: Alan Gaines to Resign From Board of Directors----------------------------------------------------------By letter dated April 1, 2011, Mr. Alan Gaines, Chairman of theBoard of Directors of Dune Energy, Inc., submitted his resignationfrom the Board of Directors of Dune Energy, Inc., to be effectiveas of April 15, 2011, and informed the Company that he does notwish to be considered for nomination to the Board of Directors ofthe Company at the next annual meeting of stockholders of theCompany. Mr. Gaines is resigning to pursue other interests and isnot resigning because of any disagreement with the Company on anymatter relating to the Company's operations, policies orpractices.

About Dune Energy

Dune Energy, Inc. (NYSE AMEX: DNE) -- http://www.duneenergy.com/-- is an independent energy company based in Houston, Texas.Since May 2004, the Company has been engaged in the exploration,development, acquisition and exploitation of natural gas and crudeoil properties, with interests along the Louisiana/Texas GulfCoast. The Company's properties cover over 90,000 gross acresacross 27 producing oil and natural gas fields.

The Company reported a net loss of $75.53 million on $64.18million of revenue for the year ended Dec. 31, 2010, compared witha net loss of $59.13 million on $52.24 million of revenue duringthe prior year.

The Company's balance sheet at Dec. 31, 2010 showed $297.38million in total assets, $371.68 million in total liabilities,$202.95 million in commitments and contingencies, and a $277.25million stockholders' deficit.

S&P said in April 2010 that "the company's heavy debt burden makesthe prospects of a distressed exchange or bankruptcy a distinctpossibility."

DUTCH GOLD: Incurs $3.70 Million Net Loss in 2010-------------------------------------------------Dutch Gold Resources, Inc., filed with the U.S. Securities andExchange Commission its annual report on Form 10-K, reporting anet loss of $3.70 million on $0 of revenue for the year endedDec. 31, 2010, compared with a net loss of $11.33 million on $0 ofrevenue during the prior year.

The Company's balance sheet at Dec. 31, 2010 showed $6.30 millionin total assets, $7.56 million in total liabilities, and a$1.26 million stockholders' deficit.

Hancock Askew & Co., LLP, in Atlanta, Georgia, expressedsubstantial doubt about the Company's ability to continue as agoing concern, following the Company's 2010 results. Theindependent auditors noted that the Company has limited liquidityand has incurred recurring losses from operations.

Based in Atlanta, Ga., Dutch Gold Resources, Inc. (OTC: DGRI)-- http://www.dutchgoldresources.com/-- is a junior gold miner focused on developing its existing mining properties in NorthAmerica and acquiring and developing new mines that can enter intoproduction in 12 to 24 months.

E-DEBIT GLOBAL: Announces Entry Into the Prepaid Marketplace------------------------------------------------------------E-Debit Global Corporation announced its entry into the prepaidmarketplace with the purchase of an equity position within SmartPay Solutions Inc. with its joint venture partnership with ebackupInc., "Capital Six Limited."

"As a result of our recent announcement related to our strategicpartnership and equity stake in ebackup Inc. E-Debit is now in theprocess of rolling out a branded prepaid card product through thepurchase of an equity stake within Smart Pay Solutions Inc. by ourjoint venture Capital Six Limited" advises E-Debit Chief ExecutiveDoug Mac Donald. "With this roll out we now can proceed with thefirst stage of our national marketing and distribution network."

"This is just one more step in our development plan and we are ontrack with our total integration within the prepaid, loyalty anddebit card business space. We have been fairly anonymous in ourgrowth within the card product and e-wallet segment and there ismuch more to come," Mac Donald continued.

About E-Debit Global Corporation

E-Debit Global Corporation (WSHE) is a financial holding companyin Canada at the forefront of debit, credit and online computerbanking. Currently, the Company has established a strong presencein the privately owned Canadian banking sector including AutomatedBanking Machines (ABM), Point of Sale Machines (POS), OnlineComputer Banking (OCB) and E-Commerce Transaction security andpayment. E-Debit maintains and services a national ABM networkacross Canada and is a full participating member of the CanadianINTERAC Banking System.

The Company's balance sheet at Sept. 30, 2010, showedUS$1.79 million in total assets, US$1.96 million in totalliabilities, and a stockholders' deficit of US$165,000. As ofSept. 30, 2010, the Company had a working capital deficit ofUS$770,000 and an accumulated deficit of US$4.08 million.

Cordovano and Honeck LLP, in Englewood, Colorado, expressedsubstantial doubt about E-Debit Global Corporation's ability tocontinue as a going concern, following the Company's 2009 results.The independent auditors noted that the Company has sufferedrecurring losses, has a working capital deficit, and has anaccumulated deficit of US$760,509 as of Dec. 31, 2009.

ECOLOGIX RESOURCE: Delays Filing of 2010 Annual Report------------------------------------------------------Ecologix Resource Group, Inc., informed the U.S. Securities andExchange Commission that it cannot complete filing of its annualreport on Form 10-K for the period ended Dec. 31, 2010, becausethe officers responsible for preparing the report were not able tofurnish reports to the Auditor in time for review due to otherCompany matters and difficulty in obtaining certain information.

About Ecologix Resource

Beverly Hills, Calif.-based Ecologix Resource is a naturalresource company focused on the harvesting and marketing of highquality timber while pursuing the production of alternative energysolutions. The Company manages tropical hardwood forestconcessions in the Republic of Cameroon in Western Africa.

The Company was incorporated under the laws of the State ofDelaware on Nov. 7, 2007. The Company was formerly known asBattery Control Corp. and changed its name to Ecologix ResourceGroup, Inc. on July 14, 2009. In 2009, the Company acquired itsfirst concession in Cameroon and discontinued the business ofBattery Control Corp.

The Company's balance sheet at Sept. 30, 2010, showed$2.23 million in total assets, $11.34 million in totalliabilities, and a stockholders' deficit of $9.11 million.

Seligson & Giannattasio, LLP, in White Plains, N.Y., expressedsubstantial doubt about Ecologix Resource Group, Inc.'s ability tocontinue as a going concern, following the Company's 2009 results.The independent auditors noted that the Company has incurredsignificant recurring losses and that the realization of a majorportion of its assets is dependent upon its ability to meet itsfuture financing needs and the success of its future operations.

Ernst & Young LLP, in Boca Raton, Florida, expressed substantialdoubt about eDiets.com's ability to continue as a going concern.The independent auditors noted that the Company has incurredrecurring operating losses and has a working capital deficiency.

The Company reported a net loss of $43.3 million on $23.4 millionof revenues for 2010, compared with a net loss of $12.1 million on$18.1 million of revenues for 2009.

At Dec. 31, 2010, the Company's balance sheet showed $3.6 millionin total assets, $5.6 million in total liabilities, and astockholders' deficit of $2.0 million.

EMIVEST AEROSPACE: In Talks With AVIC on Possible Sale------------------------------------------------------John McVey at journal-news.net's The Journal reports that AVICGeneral Aviation, a subsidiary of China Aviation Industry GeneralAircraft, and Emivest Aerospace have been in negotiations for AVICto buy the company and its San Antonio assets, where the Companyhas its headquarters and a manufacturing plant. Rick Wachtel,chairman of the Eastern West Virginia Regional Airport Authority,said at the authority's meeting that other groups are interestedin buying the local facility. However, he had no specifics, otherthan a "bid sale" could take place soon, according to the report.

EMIVEST AEROSPACE: Staves Off Liquidation at Last Second--------------------------------------------------------Bankruptcy Law360 reports that facing imminent liquidation by itssecured lenders, Emivest Aerospace Corp. on Wednesday convinced aDelaware bankruptcy judge to delay a ruling on the sale of thebulk of the company's assets.

At a hearing in the U.S. Bankruptcy Court for the District ofDelaware, Judge Brendan L. Shannon began his ruling denying theproposed $3.5 million sale to MT LLC, according to Law360.

ENERGY FUTURE: TCEH Seeks to Amend 2007 Credit Agreement--------------------------------------------------------As part of its ongoing liability management program, TexasCompetitive Electric Holdings Company LLC, a subsidiary of EnergyFuture Holdings Corp. and Energy Future Competitive HoldingsCompany, announced that it intends to seek certain amendments toits Credit Agreement, dated as of Oct. 10, 2007 and amended as ofAug. 7, 2009. In addition, TCEH is seeking extensions of certaincommitments and loans under the Senior Secured Credit Facilities.

In connection with the Amendment, TCEH is requesting lenders underthe Senior Secured Credit Facilities to consent to certainamendments to the Senior Secured Credit Facilities that would,among other things, amend certain covenants contained in theSenior Secured Credit Facilities. Moreover, in connection withthe Amendment, TCEH is requesting that lenders under the SeniorSecured Credit Facilities acknowledge that (i) the intercompanyloans from TCEH to EFH Corp. comply with the requirement in theSenior Secured Credit Facilities that these loans be made on an"arm's-length" basis and (ii) no excess cash flow mandatoryrepayments were required to be made by TCEH for fiscal years 2008,2009 and 2010.

Based on private negotiations and discussions with lenders, TCEHbelieves that lenders representing greater than 50% of the loansand commitments under the Senior Secured Credit Facilities willapprove the Amendment, subject to the completion of definitivedocumentation and the satisfaction of other customary closingconditions. Pursuant to the Senior Secured Credit Facilities,lenders holding, in the aggregate, greater than 50% of the loansand commitments under the Senior Secured Credit Facilities mustconsent to the Amendment in order for it to become effective. TheAmendment will not be conditioned on the closing and effectivenessof the Extension. If the Amendment becomes effective, TCEH willpay a consent fee of 50 basis points to lenders that consent tothe Amendment by 12:00 p.m., Eastern time, on April 7, 2011.

In connection with the Extension, TCEH is offering all of itslenders under the Senior Secured Credit Facilities the right toextend:

(1) the maturity of TCEH's first lien term loans held by accepting lenders from Oct. 10, 2014 to Oct. 10, 2017 and increase the interest rate with respect to such extended term loans from LIBOR plus 3.50% to LIBOR plus 4.50%,

(2) the maturity of TCEH's first lien deposit letter of credit loans held by accepting lenders from Oct. 10, 2014 to Oct. 10, 2017, and increase the interest rate with respect to such extended deposit letter of credit loans from LIBOR plus 3.50% to LIBOR plus 4.50%; and

(3) the maturity of the commitments under TCEH's revolving credit facility held by accepting lenders from Oct. 10, 2013 to Oct. 10, 2016 and increase the interest rate with respect to such extended revolving loans from LIBOR plus 3.50% to LIBOR plus 4.50% and increase the undrawn fee with respect to such commitments from 0.50% to 1.00%.

If the Extension becomes effective, TCEH will pay an up-frontextension fee of 350 basis points on extended term loans andextended deposit letter of credit loans to lenders that agree toextend their term loans and deposit letter of credit loans by12:00 p.m., Eastern time, on April 12, 2011.

The closing and effectiveness of the Extension will be conditionedupon the satisfaction of certain conditions, including, amongothers, the closing of an offering by TCEH of its senior securednotes producing gross cash proceeds in an amount, together withcash on hand of TCEH, necessary to fund pro-rata repayments ofcertain outstanding loans under the Senior Secured CreditFacilities and certain fees and expenses incurred in connectionwith the Senior Secured Notes Offering, the Amendment and theExtension. The extension of the term loans and deposit letter ofcredit loans will not be conditioned upon the effectiveness of theextension of the commitments under the revolving credit facility.

The Amendment, the Extension and the Senior Secured Notes Offeringwill be subject to various closing conditions, and there can be noassurance that these transactions will be consummated.

About Energy Future

Energy Future Holdings Corp. is a privately held diversifiedenergy holding company with a portfolio of competitive andregulated energy businesses in Texas. Oncor, an 80%-owned entitywithin the EFH group, is the largest regulated transmission anddistribution utility in Texas. The Company delivers electricityto roughly three million delivery points in and around Dallas-FortWorth.

EFH Corp. was created in October 2007 in a $45 billion leveragedbuyout of Texas power company TXU in a deal led by private-equitycompanies Kohlberg Kravis Roberts & Co. and TPG Inc.

The Company's consolidated balance sheets at Dec. 31, 2010, showed$46.388 billion in total assets, $52.299 billion in totalliabilities, and a stockholders' deficit of $5.911 billion.

* * *

As reported by the Troubled Company Reporter on Aug. 19, 2010,Fitch Ratings downgraded the Issuer Default Ratings of EnergyFuture Holdings Corp. and its subsidiaries Energy FutureIntermediate Holding Company LLC, Texas Competitive ElectricHoldings Company LLC, and Energy Future Competitive HoldingsCompany by one notch to 'CCC' from 'B-'.

The downgrades of the IDRs of EFH and its non-ring-fencedsubsidiaries reflect large debt maturities occurring in 2014,over-leveraged capital structure, cash flow dependence on theforward natural gas NYMEX curve, which has been consistentlymoving down since mid-2008, and the likely outcome of future debtexchanges and amend-and-extend bank facility negotiations. InFitch's view, potential defaults in 2011-2012 are considered morelikely to result from coercive debt exchanges and unlikely toresult from payment defaults.

The TCR on Aug. 19, 2010, also reported that Moody's InvestorsService changed the probability of default rating for EnergyFuture Holdings to Caa2/LD from Ca following the completion of adebt restructuring which Moody's views as a distressed exchange.EFH's Caa1 CFR and SGL-4 liquidity rating are affirmed. Therating outlook remains negative.

EFH executed a debt restructuring which involved an exchange ofits 10.875% senior unsecured (guaranteed) notes due 2017 and its11.25% / 12.00% senior unsecured PIK Toggle (guaranteed) notes due2017 for new 10.00% senior secured notes due 2020 issued at EFIH,plus approximately $500 million in cash, plus accrued interest.These events had the effect of allowing EFH to reduce its overallnet debt by approximately $1.0 billion and extend a portion of itsmaturities. The transaction crystallized losses for investors ofapproximately 30%. Taken as a whole, Moody's views thetransaction as a distressed exchange and has classified thistransaction as a limited default by appending an LD designation tothe PDR.

In March 2011, Fitch Ratings it does not expect to take anyimmediate rating action on EFH's Texas Competitive ElectricHoldings Company LLC or their affiliates based on recent defaultallegations from lender Aurelius. Moody's also said said thedefault assertion will not, at this time, affect the ratings orrating outlooks for EFH or its subsidiaries.

Deloitte Touche Tohmatsu CPA, Ltd., in Beijing, the People'sRepublic of China, expressed substantial doubt about FeiheInternational's ability to continue as a going concern. Theindependent auditors noted of the Company's losses from operationsand deficiency of net current assets.

The Company reported a net loss of $9.9 million on $257.1 millionof sales for 2010, compared with net income of $19.5 million on$271.1 million of sales for 2009.

At Dec. 31, 2010, the Company's balance sheet showed$464.3 million in total assets, $236.5 million in totalliabilities, $66.1 million in redeemable common stock, andstockholders' equity of $161.7 million.

Based in Beijing, China, Feihe International, Inc. (NYSE: ADY)-- http://www.ady.feihe.com/-- was incorporated in the State of Utah on Dec. 31, 1985, originally under the corporate name ofGaslight, Inc. The Company produces and distributes milk powder,soybean milk powder, and related dairy products in the People'sRepublic of China, or the PRC.

FIRST SECURITY: Delays Filing of 2010 Annual Report---------------------------------------------------First Security Group Inc. said that it is in the process ofpreparing and having audited by its independent registeredaccounting firm its consolidated financial statements as atDec. 31, 2010 and for the fiscal year then ended. The Companysaid the process of compiling and disseminating the informationrequired to be included in its Form 10-K Annual Report for the2010 fiscal year, as well as the completion of the required auditof the Company's financial information, could not be completed byMarch 31, 2011 without incurring undue hardship and expense. TheCompany undertakes the responsibility to file such annual reportno later than fifteen calendar days after its original due date.

About First Security Group

First Security Group, Inc., is a bank holding companyheadquartered in Chattanooga, Tennessee, with $1.2 billion inassets as of Sept. 30, 2010. Founded in 1999, FirstSecurity's community bank subsidiary, FSGBank, N.A., has 37 full-service banking offices, including the headquarters, along theinterstate corridors of eastern and middle Tennessee and northernGeorgia and 325 full-time equivalent employees. In Dalton,Georgia, FSGBank operates under the name of Dalton Whitfield Bank;along the Interstate 40 corridor in Tennessee, FSGBank operatesunder the name of Jackson Bank & Trust.

As reported in the Troubled Company Reporter on Nov. 12, 2010, theCompany said its losses from operations during the last two yearsraise possible doubt as to its ability to continue as a goingconcern.

On Sept. 7, 2010, the Company entered into a Written Agreementwith the Federal Reserve Bank of Atlanta, the Company's primaryregulator, which prohibits the Company from declaring or payingdividends without prior written consent of the Federal Reserve.The Company is also prohibited from taking dividends, or any otherform of payment representing a reduction of capital, from the Bankwithout prior written consent.

The Company is also required, within 60 days of the Agreement, tosubmit to the Federal Reserve a written plan designed to maintainsufficient capital at the Company and the Bank.

On April 28, 2010, FSGBank, the Company's wholly-owned subsidiary,consented and agreed to the issuance of a Consent Order by theOffice of the Comptroller of the Currency (OCC). Pursuant to thatConsent Order, within 120 days of the effective date of the Order,the Bank is required to achieve and thereafter maintain totalcapital at least equal to 13% of risk-weighted assets andTier 1 capital at least equal to 9% of adjusted totalassets.

As of Sept. 30, 2010, the first financial reporting periodsubsequent to the 120 day requirement, the Bank's total capital torisk-weighted assets was 12.93% and the Tier 1 capital toadjusted total assets was 7.43%. The Bank has notified theOCC of the non-compliance.

Official creditors' committees have the right to employ legal andaccounting professionals and financial advisors, at the Debtor'sexpense. They may investigate the Debtor's business and financialaffairs. Importantly, official committees serve as fiduciaries tothe general population of creditors they represent. Thosecommittees will also attempt to negotiate the terms of aconsensual Chapter 11 plan -- almost always subject to the termsof strict confidentiality agreements with the Debtors and othercore parties-in-interest. If negotiations break down, theCommittee may ask the Bankruptcy Court to replace management withan independent trustee. If the Committee concludes reorganizationof the Debtor is impossible, the Committee will urge theBankruptcy Court to convert the Chapter 11 cases to a liquidationproceeding.

GARRISON ROAD: Court Enters Show Cause Order on Case Dismissal--------------------------------------------------------------The U.S. Bankruptcy Court for the District of Maryland issued onMarch 22, 2011, an order directing any interested party to showcause, within 14 days of the date of entry of the Order, in awriting filed with the Clerk of the Court, why Garrison Road,LLC's Chapter 11 case should not be dismissed pursuant to Section1112(b) of the Bankruptcy Code.

Judge Thomas J. Catliota pointed out that the case was filed onJune 25, 2010, as an involuntary petition by petitioning creditor,KH Funding Co. On March 22, 2011, the Court held a statusconference, and based on the conversation had at that hearing, itis highly unlikely the Debtor will be able to reorganize, JudgeCatliota said.

GATEWAY HOTEL: Has Access to Cash Collateral Until May------------------------------------------------------Gateway Hotel LLC sought and obtained interim authorization fromthe U.S. Bankruptcy Court for the District of Arizona to use cashcollateral until May 2011.

2010-1 SFG Venture LLC is expected to assert the only securedclaim in the Debtor's Chapter 11 case pursuant to a purportedassignment of all right, title and interest in and to certain loanand security documents relating to a loan made on June 6, 2008, tothe Debtor by Specialty Finance Group, LLC. 2010-1 SFG isexpected to assert a lien interest in and to the improved realproperty and fixtures thereon comprising the Debtor's hotel -- theHilton Garden Inn Phoenix Airport North -- and a security interestin and to all income and revenues generated by the hotel. As ofJan. 17, 2011, the outstanding principal balance of the Loan wasapproximately $24,956,000.

Kyle S. Hirsch, Esq., at Bryan Cave LLP, explained that the Debtorneeds the money to fund its Chapter 11 case, pay suppliers andother parties. The Debtor will use the collateral pursuant to aweekly budget, a copy of which is available for free at:

The Debtor said that the Lender is adequately protected becausethe value of the property isn't expected to decline during theBudget period.

The Debtor requested approval to deposit all operations revenuesreceived postpetition in and approved account, which revenues willbe segregated from the prepetition revenues. The Debtor may thenwithdraw funds from the approved account as necessary to pay theexpenses as provided in the Budget.

The Court has set a final hearing for April 18, 2011, at10:00 a.m. on the Debtor's request for authorization to use cashcollateral.

GATEWAY HOTEL: Has OK to Hire Bryan Cave as Gen. Bankr. Counsel---------------------------------------------------------------Gateway Hotel LLC sought and obtained authorization from the Hon.James M. Marlar of the U.S. Bankruptcy Court for the District ofArizona to employ Bryan Cave LLP as general bankruptcy andrestructuring counsel.

GATEWAY HOTEL: Section 341(a) Meeting Scheduled for May 3---------------------------------------------------------The U.S. Trustee for Region 14 will convene a meeting of GatewayHotel LLC's creditors on May 3, 2011, at 9:00 a.m. The meetingwill be held at the US Trustee Meeting Room, 230 N. First Avenue,Suite 102, Phoenix, Arizona.

This is the first meeting of creditors required under Section341(a) of the U.S. Bankruptcy Code in all bankruptcy cases.All creditors are invited, but not required, to attend. ThisMeeting of Creditors offers the one opportunity in a bankruptcyproceeding for creditors to question a responsible office of theDebtor under oath about the company's financial affairs andoperations that would be of interest to the general body ofcreditors.

GRAMERCY PARK: Judge James Peck Assigned to Chapter 11 Case-----------------------------------------------------------Judge James M. Peck has been added to Gramercy Park Land, LLC'sChapter 11 bankruptcy case in the U.S. Bankruptcy Court for theSouthern District of New York.

GRAMERCY PARK: Section 341(a) Meeting Scheduled for May 3---------------------------------------------------------The U.S. Trustee for Region 2 will convene a meeting of GramercyPark Land, LLC's creditors on May 3, 2011, at 2:30 p.m. Themeeting will be held at Office of the United States Trustee, 80Broad Street, Fourth Floor, New York.

This is the first meeting of creditors required under Section341(a) of the U.S. Bankruptcy Code in all bankruptcy cases.All creditors are invited, but not required, to attend. ThisMeeting of Creditors offers the one opportunity in a bankruptcyproceeding for creditors to question a responsible office of theDebtor under oath about the company's financial affairs andoperations that would be of interest to the general body ofcreditors.

GREAT ATLANTIC: Sues Stop & Shop for Non-Compete Violation----------------------------------------------------------Bill Rochelle, the bankruptcy columnist for Bloomberg News,reports that Great Atlantic & Pacific Tea Co. sued competitor Stop& Shop Supermarket Co. LLC for hiring away a top executive inviolation of a non-competition agreement. The suit, filed in theU.S. District Court in Brooklyn, alleges that Stop & Shop, asubsidiary of Netherlands-based supermarket operator KoninklijkeAhold NV, hired Frank Vitale, who worked at A&P for 40 years,rising to vice president of operations. When Mr. Vitale resignedFeb. 14 to work for Stop & Shop, he was subject to an 18-monthnon-competition agreement under his employment contract with A&P,the complaint said. A&P wants the court to enjoin Mr. Vitale fromworking for Stop & Shop. The Debtor wants $1 million incompensatory damages and $1 million in punitive damages from Stop& Shop.

The Great Atlantic & Pacific Tea Company, Inc., and its affiliatesfiled petitions under Chapter 11 of the U.S. Bankruptcy Code(Bankr. S.D.N.Y. Case No. 10-24549) on Dec. 12, 2010 in WhitePlains, New York. In its petition, Atlantic & Pacific reportedtotal assets of $2.5 billion and liabilities of $3.2 billion as ofSept. 11, 2010.

MaloneBailey, LLP, in Houston, expressed substantial doubt aboutGreen Energy Management's ability to continue as a going concern.The independent auditors noted that the Company has sufferedrecurring losses from operations.

The Company reported a net loss of $1.9 million on $291,311 ofcontract revenue for 2010, compared with a net loss of $89,185 on$1.7 million of contract revenue for 2009.

At Dec. 31, 2010, the Company's balance sheet showed $2.1 millionin total assets, $661,453 in total liabilities, and stockholders'equity of $1.5 million.

Teaneck, N.J.-based Green Green Energy Management ServicesHoldings, Inc., is full service energy management company. TheCompany also provides residential and commercial electricalcontractor services. During the second half of 2010, the Companyunderwent a significant shift in its b usiness strategy away fromthe former Southside ("Southside Electric Corporation, Inc.")contracting business to the new strategy of Energy Efficiency andenergy management. As a result, all of the Company's resourceshave been devoted to procuring new contracts pursuant to this newstrategy.

GREENHOUSE HOLDINGS: PKF Raises Going Concern Doubt---------------------------------------------------GreenHouse Holdings, Inc.,filed on March 31, 2011, its annualreport on Form 10-K for the fiscal year ended Dec. 31, 2010.

PKF, in San Diego, Calif., expressed substantial doubt aboutGreenHouse Holdings' ability to continue as a going concern. Theindependent auditors noted that the Company had an accumulateddeficit of $6,753,036, a net loss and net cash used in operationsof $4,644,966 and $3,509,800, respectively, for the year endedDec. 31, 2010.

The Company reported a net loss of $4.6 million on $6.7 million ofrevenues for 2010, compared with a net loss of $1.7 million on$4.5 million of revenues for 2009.

At Dec. 31, 2010, the Company's balance sheet showed $7.6 millionin total assets, $5.3 million in total liabilities, andstockholders' equity of $2.3 milllion.

San Diego, Calif.-based GreenHouse Holdings, Inc. (OTC BB: GRHU)-- http://www.greenhouseintl.com/-- is a leading provider of energy efficiency and sustainable facilities solutions. Thecompany designs, engineers and installs disparate products andtechnologies that enable its clients to reduce their energy costsand carbon footprint. Target markets for GreenHouse's energyefficiency solutions include residential, commercial andindustrial, as well as government and military markets. Inaddition, the Company develops, designs and constructs rapidlydeployable, sustainable facilities primarily for use in disasterrelief and security in austere regions.

GREENSHIFT CORP: Incurs $12.14 Million Net Loss in 2010-------------------------------------------------------Greenshift Corporation filed with the U.S. Securities and ExchangeCommission its annual report on Form 10-K, reporting a net loss of$12.14 million on $7.73 million of revenue for the twelve monthsended Dec. 31, 2010, compared with a net loss of $19.73 million on$3.87 million of revenue during the prior year.

The Company's balance sheet at Dec. 31, 2010 showed $14.45 millionin total assets, $69.59 million in total liabilities and $55.14million in total stockholders' deficit.

Rosenberg Rich Baker Berman & Company, in Somerset, New Jersey,expressed substantial doubt about the Company's ability tocontinue as a going concern, following the Company's 2010financial results. The independent auditors noted that theCompany has suffered recurring losses from operations and itstotal liabilities exceed its total assets.

The Company's Annual Report on Form 10-K was not filed within therequired time because there was a delay in completing theadjustments necessary to close the books for the year.

Headquartered in New York, GreenShift Corporation develops andcommercializes clean technologies designed to integrate into andleverage established production and distribution infrastructure toaddress the financial and environmental needs of its clients bydecreasing raw material needs, facilitating co-product reuse, andreducing waste and emissions.

GREYSTONE LOGISTICS: 2005 Loan Pact With F&M Bank Amended---------------------------------------------------------Greystone Manufacturing, L.L.C., a wholly-owned subsidiary ofGreystone Logistics, Inc.; GLOG Investment, L.L.C., an entityowned by Warren F. Kruger, president, chief executive officer anda director of the Greystone Logistics; and Robert B. Rosene, Jr.,a director of the Company; and The F&M Bank & Trust Companyentered into an amendment to that certain Loan Agreement, datedMarch 4, 2005, by and among those parties. The 2011 Amendment (a)has an effective date of March 15, 2011, (b) causes all ofGreystone Manufacturing's accrued debt under the Loan Agreement tobe transferred into a single term loan facility, with suchfacility being in the aggregate principal amount of $6,097,776 andhaving a maturity date of March 13, 2014, and (c) adds to the LoanAgreement certain financial covenants, reporting requirements andother provisions that are customary in those types of agreements.

The Company's balance sheet at Nov. 30, 2010, showed$10.29 million in total assets, $18.94 million in totalliabilities, and $8.64 million in total deficit.

As reported in the Troubled Company Reporter on Sept. 17, 2010,HoganTaylor LLP, in Tulsa, Okla., expressed substantialdoubt about the Company's ability to continue as a going concern,following the Company's results for the fiscal year ended May 31,2010. The independent auditors noted that at May 31, 2010, theCompany has a stockholders' deficit of $7.7 million and a workingcapital deficit of $12.6 million.

GREYSTONE LOGISTICS: To Move Existing Debt to Long-Term Facility----------------------------------------------------------------Greystone Logistics has reached an agreement to move existing debtwith its principal lender to a long-term facility.

Bill Rahhal, company CFO stated "We have a great workingrelationship with our bankers yet until yesterday's long-termfinancing, our debt was rolled over on an annual basis thusskewing our ratios and showing most of our debt as current. Thecompany balance sheet will now be more reflective of the progressthe company has made in building our business." Rahhal continued,"This year's capital expenditures on equipment and pallet moldsand upgrades coupled with larger than usual cash outlays oninfrastructure and improving operations were a result of followingour vision of building long-term value for our shareholders.Greystone already produces the finest recycled plastic pallets inthe United States and in an extraordinarily short window of timehas become a significant supplier of reprocessed post-consumerplastic for resale."

The Company's balance sheet at Nov. 30, 2010, showed$10.29 million in total assets, $18.94 million in totalliabilities, and $8.64 million in total deficit.

As reported in the Troubled Company Reporter on Sept. 17, 2010,HoganTaylor LLP, in Tulsa, Okla., expressed substantialdoubt about the Company's ability to continue as a going concern,following the Company's results for the fiscal year ended May 31,2010. The independent auditors noted that at May 31, 2010, theCompany has a stockholders' deficit of $7.7 million and a workingcapital deficit of $12.6 million.

The Company reported a net loss of $69.7 million on $575.5 millionof revenues for 2010, compared with a net loss of $80.5 million on$527.9 million of revenues for 2009.

The net loss attributable to Grubb & Ellis Company for the yearended Dec. 31, 2010 was $66.8 million.

The net loss attributable to the Company for 2010 included non-cash charges of $12.7 million for depreciation and amortization, a$9.4 million charge for bad debt, $9.1 million of share-basedcompensation, $7.1 million for amortization of signing bonuses,$2.8 million for intangible asset impairment and $859,000 for realestate related impairments. In addition, the year end resultsincluded approximately $5.9 million of severance and othercharges. After payment of preferred stock dividends of$11.6 million, the net loss attributable to Grubb & Ellis Companycommon shareowners for the year ended Dec. 31, 2010, was$78.4 million.

At Dec. 31, 2010, the Company's balance sheet showed$286.9 million in total assets, $255.8 million in totalliabilities, $90.1 million in 12% cumulative participatingperpetual convertible preferred stock, and a stockholders' deficitof $59.0 million.

As reported in the TCR on April 1, 2011, the Company received an$18 million financing commitment from Colony Capital, LLC, aprivate, international investment firm focusing primarilyon debt and equity investments in real estate-related assets andoperating companies, headquartered in Los Angeles.

"In the event that we are not successful in meeting suchconditions and are unable to obtain the full $18.0 million offunding under the Senior Secured Credit Facility, or analternative funding facility, it could create substantial doubtabout our ability to continue as a going concern for the twelvemonth period ending Dec. 31, 2011," the Company said in thefiling.

As reported in the TCR on March 22, 2011, the Company had engagedJMP Securities to explore strategic alternatives, including thepotential sale or merger of the Company.

Management believes that with the completion of the $18.0 millionsenior secured term loan facility, they will have sufficientliquidity to operate in the normal course through at least Dec.31, 2011.

Santa Ana, Calif.-based Grubb & Ellis Company (NYSE: GBE)-- http://www.grubb-ellis.com/-- is a commercial real estate services and investment management company with over 5,200professionals in more than 100 company-owned and affiliate officesthroughout the United States. The Company's range of servicesincludes tenant representation, property and agency leasing,commercial property and corporate facilities management, propertysales, appraisal and valuation and commercial mortgage brokerageand investment management.

Through its investment management business, the Company is aleading sponsor of real estate investment programs.

GUANGZHOU GLOBAL: Delays Filing of 2010 Annual Report-----------------------------------------------------Guangzhou Global Telecom, Inc., notified the U.S. Securities andExchange Commission that it will be late in filing its AnnualReport on Form 10-K for the period ended Dec. 31, 2010. TheCompany said it did not obtain all information prior to filingdate and attorney and accountant could not complete the requiredlegal information and financial statements and management couldnot complete Management's Discussion and Analysis of suchfinancial statements by March 31, 2011.

About Guangzhou Global

Tallahassee, Fl.-based Guangzhou Global Telecom, Inc., wasincorporated as Avalon Development Enterprises, Inc., on March 29,1999, under the laws of the State of Florida. The Company,through its subsidiaries, is now principally engaged in thedistribution and trading of rechargeable phone cards, cellularphones and accessories within cities in the People's Republic ofChina.

The Company's balance sheet at Sept. 30, 2010, showed$2.43 million in total assets, $5.31 million in total liabilities,and a stockholders' deficit of $2.88 million.

Montgomery Coscia Greilich LLP, in Plano, Texas, expressedsubstantial doubt about Halo Companies' ability to continue as agoing concern. The independent auditors noted that the Companyhas incurred losses since its inception and has not yetestablished profitable operations.

The Company reported a net loss of $3.6 million on $6.9 million ofrevenue for 2010, compared with a net loss of $1.9 million on$9.1 million of revenue for 2009.

At Dec. 31, 2010, the Company's balance sheet showed $2.8 millionin total assets, $3.3 million in total liabilities, and astockholders' deficit of $439,076.

Allen, Texas-based Halo Companies, Inc., is a nationwide realestate investment, asset management and financial services companythat provides technology and asset management solutions to assetowners as well as real estate and financial services tofinancially distressed consumers which can be applied individuallyor utilized as a comprehensive workout strategy.

HARRY & DAVID: Has Interim OK for $100-Mil. DIP Loan----------------------------------------------------Harry & David Holdings Inc., et al., sought and obtained interimauthorization from the Hon. Mary F. Walrath of the U.S. BankruptcyCourt for the District of Delaware to obtain up to $100 million infirst priority senior secured revolving credit facility from asyndicate of lenders led by UBS AG as administrative agent andAlly Commercial Finance LLC as collateral agent have committed toprovide up to $100 million in first priority senior securedrevolving credit facility.

Daniel J. DeFranceschi, Esq., at Richards, Layton & Finger, P.A.,explained that the Debtors need the money to fund their Chapter 11case, pay suppliers and other parties. A copy of the financingagreement is available for free at:

The borrower will be required to make mandatory payments of alloutstanding loans during the month of December as required by theExisting Credit Agreement -- credit agreement dated March 20,2006. The credit parties will be required to maintain minimumavailable cash as required by the Existing Credit Agreement.

The Debtors are required to pay: (A) an unused line fee -- 1.00%per annum based upon the average daily unused amount of the DIPFacility Commitments, calculated and payable per the terms of theExisting Credit Agreement.; (B) (i) letters of credit fees equalto 0.25% per annum on the undrawn amount of all outstandingletters of credit and (ii) letter of credit participation feesequal to 3.75% per annum on the issued and outstanding letters ofcredit. In addition, the borrowers will also pay upon demand tothe UBS AG customary issuance, amendment and other fees; and(c) other fees payable pursuant to the terms of a separate feeletter with the Administrative Agent and the Collateral Agent.

The DIP Credit Facility will be secured by first priority liens onall assets of the credit parties.

As reported by the Troubled Company Reporter on March 30, 2011,Dow Jones' DBR Small Cap reports that Judge Walrath gave Harry &David the go-ahead to use $30 million of a $55 million second-lienfacility from a group of senior noteholders and Wasserstein &Company LP, one of Harry & David's two private equity owners.

Cash Collateral Use

The Debtors also obtained interim authorization to use cashcollateral until June 25, 2011. The Prepetition RevolvingLenders, the Revolving DIP Lenders and the DIP Note Purchasershave consented to the Debtors' use of cash collateral.

The Debtors are party to that certain credit agreement dated as ofMarch 20, 2006, with UBS AG, as issuing bank, administrativecollateral agent and administrative agent; GMAC Commercial FinanceLLC, as collateral and documentation agent; UBS Securities LLC asarranger; and UBS Loan Finance LLC as swingline lender lender,that provided the Debtors with a $105 million revolving creditfacility. As of the Petition Date, the Debtors had no outstandingborrowings under the Prepetition Revolving Credit Facility. TheDebtors have issued approximately $1 million of letters of creditunder the Prepetition Revolving Credit Facility, and the Lettersof Credit were still outstanding as of the Petition Date, butfully collateralized.

The Debtors had approximately $58 million of Senior Floating RateNotes due March 1, 2012, and $140 million of Senior Fixed RateNotes due March 1, 2013, outstanding as of the Petition Date. Asingle indenture, dated February 25, 2005, governs both series ofPrepetition Notes and Wells Fargo Bank, N.A. is the indenturetrustee. In fiscal 2008 and fiscal 2009, the Debtors repurchasedapproximately $34.8 million of then outstanding Senior Fixed RateNotes and $11.8 million of the then outstanding Senior FloatingRate Notes. The Debtors officially cancelled $22.2 million of therepurchased Senior Fixed Rate Notes and $2 million of therepurchased Senior Floating Rate Notes, and the Debtors hold theremaining repurchased notes.

In exchange for the use of cash collateral, the Debtors will(a) grant to the lenders under the Existing Credit Agreementreplacement liens on all of the DIP collateral, subordinate onlyto the liens in favor of the DIP credit facility and the Term BFacility, the Carve-Out and permitted liens, (b) provide for asuperpriority administrative claim, subject only to the claims ofthe DIP Credit Facility, the Carve-Out, and the claims of the TermB Facility, (c) timely pay the reasonable fees and out-of-pocketexpenses of the professionals retained by the lenders under theExisting Credit Agreement, and (d) timely pay in cash interestdue, if any, under the Existing Credit Agreement at the rate ineffect on the day before the Petition Date.

Final Hearing

The Court has set a final hearing for April 27, 2011, at 9:30 a.m.on the Debtors' request to obtain DIP financing and use cashcollateral.

Under the agreement, the backstop providers have committed topurchase, at the same purchase price, stock in the reorganizedDebtors to the extent that the proposed rights offering does notraise the full $55 million to repay amounts owing under the DIPTerm Loan. The agreement contains a break-up fee, commitment feeshares, and the reimbursement of any unpaid and outstanding feesand expenses to the providers.

Additionally, the Debtors retain a "Fiduciary Out," such that theycan terminate the backstop agreement at any time and only beliable for payment of the backstop fees and indemnities. The Courtscheduled a hearing on the matter for April 27, 2011.

The Debtors disclosed $304.3 million in total assets and$360.8 million in total debts as of Dec. 25, 2010.

HCA HOLDINGS: 2011 Senior Officer PEP Adopted---------------------------------------------A subcommittee of the Compensation Committee of the Board ofDirectors of HCA Holdings, Inc., adopted the 2011 Senior OfficerPerformance Excellence Program. Under the Senior Officer PEP, theexecutive officers of the Company will be eligible to earnperformance awards based upon the achievement of certain specifiedperformance targets. The specified performance criteria for theCompany's named executive officers and other participants isEBITDA, and with respect to the Southwest, National and CentralGroup Presidents 50% of their respective award opportunities arebased on EBITDA for their respective Group. Target awards for2011 for the named executive officers are as follows:

* 80%-100% of base salary for R. Milton Johnson, the Company's President and CFO;

* 66%-90% of base salary for Samuel N. Hazen, the Company's President of Operations;

* 66%-80% of base salary for Beverly B. Wallace, the Company's President - NewCo Business Solutions; and

* 66%-80% of base salary for W. Paul Rutledge, a Group President.

Participants will receive 100% of the target award for targetperformance, 25% of the target award for a minimum acceptable(threshold) level of performance, and a maximum of 200% of thetarget award for maximum performance. The threshold, target andmaximum percentages, within the ranges previously approved by theCommittee, will be finally determined by the Committee.

No payments will be made for performance below specified thresholdamounts. Payouts between threshold and maximum will be calculatedby the Committee in its sole discretion using straight-lineinterpolation. The Committee may make adjustments to the termsand conditions of, and the criteria included in, awards under theSenior Officer PEP in recognition of unusual or nonrecurringevents affecting a participant or the Company, or the financialstatements of the Company, or in certain other instances specifiedin the Senior Officer PEP.

The Committee may apply negative discretion to final awarddeterminations with respect to any of the named executive officersbased on the Committee's subjective evaluation of the namedexecutive officer's annual performance including, if and asdetermined by the Committee, an evaluation of quality ofperformance with a primary focus on the Centers for Medicare &Medicaid Services Core Measures and HCAHPS performance againstindustry benchmarks. However, no such adjustment to an individualaward will exceed 20% of the "target" award of the individual.

Awards pursuant to the Senior Officer PEP that are attributable tothe performance goals being met at "target" level or below will bepaid solely in cash, and, in the event performance goals areachieved above the "target" level, the amount of an awardattributable to performance results in excess of "target" levelswill be payable 50% in cash and 50% in restricted stock units.

In addition, awards pursuant to the Senior Officer PEP are subjectto recovery or adjustment by the Company in certain circumstancesin which the operating results on which the payment was based wererestated or otherwise adjusted or in the event a participant'sconduct is not in good faith and materially disrupts, damages,impairs or interferes with the business of the Company and itsaffiliates.

About HCA Inc.

Headquartered in Nashville, Tennessee, HCA is the nation's largestacute care hospital company with 162 hospitals and 104freestanding surgery centers (including eight hospitals and eightfreestanding surgery centers that are accounted for using theequity method) as of Sept. 30, 2010. For the twelve monthsended Sept. 30, 2010, the company recognized revenue in excessof $30 billion.

In November 2010, Moody's Investors Service confirmed the existingratings of HCA, including the 'B2' Corporate Family andProbability of Default Ratings. Moody's assigned a Caa1 (LGD6,96%) rating to HCA, Inc.'s proposed offering of $1.525 billion ofsenior unsecured notes due 2021 to be issued at a parent holdingcompany.

HCA's 'B2' Corporate Family Rating anticipates that the companywill continue to operate with significant leverage. Pro forma forthe proposed debt financed distribution Moody's estimate thatadjusted leverage would have been 5.2 times at Sept. 30, 2010.Furthermore, the company has large maturities in 2012 and 2013that will likely need to be refinanced in the capital markets.However, the rating acknowledges the company's progress insystematically extending its maturity profile. Finally, therating reflects HCA's solid EBITDA growth, which has benefited thecredit metrics and demonstrated the company's ability to weatherindustry pressures.

As reported by the Troubled Company Reporter on March 14, 2011,Moody's Investors Service commented that the completion of the IPOby HCA Holdings, Inc., has no immediate impact on the company's B2Corporate Family Rating. The outlook for the ratings remainspositive. While Moody's believes that the completion of the IPOis a credit positive since proceeds are expected to be used torepay outstanding debt, the estimated $2.6 billion of proceeds tothe company won't meaningfully reduce HCA's $28.2 billion debtload.

In the March 16, 2011 edition of the TCR, Fitch Ratings hasupgraded its ratings for HCA Inc. and HCA Holdings Inc., includingthe companies' Issuer Default Ratings which were upgraded to 'B+'from 'B'. The Rating Outlook is revised to Stable from Positive.The ratings apply to approximately $28.2 billion in debtoutstanding at Dec. 31, 2010. Fitch noted that HCA has madesignificant progress in reducing debt leverage since it was takenprivate in 2006 in a LBO which added $17 billion to the company'sdebt balance; at Dec. 31, 2006, immediately post the LBO, debt-to-EBITDA was 6.7x. Most of the reduction in debt leverage over thepast four years was accomplished through growth in EBITDA, whichFitch calculates has expanded by $1.7 billion or 40% to $5.9billion for 2010 versus $4.2 billion in 2006. Although thecompany did not undertake a significant organizationalrestructuring post the LBO, management has nevertheless beensuccessful in growing EBITDA and significantly expandingdiscretionary free cash flow (FCF). Fitch believes this wasaccomplished through various operational initiatives, includingexpansion of profitable service lines and the divestiture of someunder performing hospitals, as well as the generally resilientoperating trend of the for-profit hospital industry during therecent economic recession despite the pressure of increased levelsof uncompensated care and generally weak organic patient volumetrends.

HEALTH NET: Fitch Affirms 'BB+' Long-Term Issuer Default Rating---------------------------------------------------------------Fitch Ratings has affirmed the ratings of Health Net, Inc.(Health Net) and ratings on Health Net's operating subsidiarieson announcement that it would incur a $180 million litigation-related charge in 2011 as a result of a recent Louisiana SupremeCourt decision. The Rating Outlook is Stable.

Today's rating action reflects Fitch's expectations that HealthNet will be able to absorb and fund the $180 million pre-tax($135 million after-tax) charge and retain a financial profilethat is consistent with expectations at its current ratingslevels. Fitch expects that Health Net will use existing cash,expected operating cash flow, and/or funds available under itsexisting credit facility to fund a $180 million cash paymentrequired by the court's decision.

At Dec. 31, 2010, Health Net had $204 million of holding companycash and equivalents available and Fitch believes that HealthNet's operating company subsidiaries retain reasonable dividendpaying capacity given their current capital levels and projectedearnings. Additionally, Fitch estimates that Health Net wouldhave access to approximately $800 million of cash under itsexisting unsecured credit facility to fund all or a portion of the$180 million cash payment required by the Louisiana Supreme Courtdecision. Fitch notes that this credit facility matures in June2012, at which time any amounts outstanding under the facilitymust be repaid.

Fitch's expectation is that any portion of the required$180 million cash fine that is funded by accessing the creditfacility will be retired by year-end 2010 from operating cashflow. Health Net's Dec. 31, 2010 debt to total capital ratio was19%. Including the charge on a pro forma basis, and assuming thatthe cash payment is funded entirely through funds obtained underthe credit facility, the ratio rises to 27%.

Fitch views the $135 million after-tax charge as significantrelative to Health Net's anticipated earnings and interestcoverage. The company's public earnings guidance prior to thecourt decision called for approximately $200 million in net incomein 2011, which was essentially flat in comparison to 2010'sreported net income. In 2011, Health Net's EBITDA-based interestcoverage ratio was 11.5 times (x). Fitch estimates the ratio at6.3x including the impact of the $180 million charge on a proforma basis.

Factors that Fitch will be monitoring closely over the next six-to-nine months include Health Net's ability to meet 2011 earningsguidance, notwithstanding the impact of the charge announcedyesterday, which Fitch considers essential for Health Net to fundthe cash required by the charge without increasing the company'sfinancial leverage beyond year-end 2011.

Other factors include Health Net's ability to avoid furtheroperational issues that call the company's risk managementcapabilities into question. Fitch believes that Health Net hasbeen plagued by a series of operational issues in recent yearsthat in some cases have led to litigation, regulatory inquiries,and material earnings disruptions. The agency believes thatHealth Net's current ratings incorporate the company's propensityfor such missteps. However, Fitch also believes that any newconcerns around Health Net's risk management capabilities couldadversely affect the company's ratings.

Key ratings drivers that could lead to an upgrade for Health Netinclude:

"The affirmations reflect our belief that the expected litigationpayment, if made in 2011, will not have a significant negativeimpact on Health Net's financial flexibility and liquidity," saidStandard & Poor's credit analyst Hema Singh.

The company said that its initial estimate of the compensatoryand punitive damages and judicial interest that it will have topay as a result of the Louisiana Supreme Court's decision isapproximately $180 million, calculated on a pretax basis. "We donot expect this litigation action to have any effect on HealthNet's ongoing business. The litigation arose from the sale ofthree health plans by a former subsidiary of Health Net toAmCareco Inc. in 1999 that subsequently went into receivership in2002," S&P noted.

The company said that it currently expects to pay the charges fromits cash reserves, expected operating cash flow, or borrowingsunder its revolving credit facility ($650 million available underthe revolver as of year-end 2010).

"As of year-end 2010, Health Net had more than $200 million ofunregulated cash, and we expect that cash flow from operatingactivities in 2010 will be adequate to allow the company to fundexisting obligations (including the $180 million) for at least thenext 12 months," said Ms. Singh.

Health Net's operating performance improved in 2010. Thecompany reported pretax operating earnings of $399 million,with a return on revenue (ROR) of 3% in 2010, compared withfull-year operating earnings of $339 million (2.2% ROR) in 2009and $312 million (2.0% ROR) in 2008. "In our calculations ofoperating earnings and ROR, we exclude the impact of realizedgains and losses, special charges, and divested operations. (InDecember 2009, Health Net sold Health Net of the Northeast Inc.'slicensed subsidiaries to UnitedHealthcare, a UnitedHealthcareGroup company.) Furthermore, we expect that the company willsustain or improve its earnings through 2011 and 2012," S&Padded.

HERCULES OFFSHORE: Court OKs Purchase of Seahawk's Jackup Rigs--------------------------------------------------------------The U.S. Bankruptcy Court for the Southern District of Texas,Corpus Christi Division approved an Asset Purchase Agreementbetween Hercules Offshore, Inc., and its wholly owned subsidiary,SD Drilling LLC, and Seahawk Drilling, Inc., and certain of itssubsidiaries, pursuant to which Seahawk agreed to sell toHercules, and Hercules agreed to acquire from Seahawk, all 20 ofSellers' jackup rigs and related assets, accounts receivable andcash and certain liabilities of Sellers in a transaction pursuantto Section 363 of the U.S. Bankruptcy Code.

The purchase price for the Acquisition will be funded by theissuance of approximately 22.3 million shares of Hercules Offshorecommon stock and cash consideration of $25 million, which will beused primarily to pay off Seahawk's Debtor-in-Possession loan.The number of shares of Hercules Offshore common stock to beissued will be proportionally reduced at closing, based on a fixedprice of $3.36 per share, if the outstanding amount of the DIPloan exceeds $25 million, with the total cash consideration not toexceed $45 million. The assets to be acquired will consist of 20jackup rigs located in the U.S. Gulf of Mexico and relatedequipment, accounts receivable, cash and contractual rights.Assumed liabilities will be limited to specific items, such asaccounts payable, with all other liabilities retained by Seahawk.

As previously reported, Hercules entered into the Agreement onFeb. 11, 2011. Closing is subject to other conditions as providedin the Agreement. Assuming those conditions are achieved, theCompany anticipates closing of this transaction to occur on orabout April 20, 2011.

About Hercules Offshore

Hercules Offshore Inc. (NASDAQ: HERO) --http://www.herculesoffshore.com/-- provides shallow-water drilling and marine services to the oil and natural gasexploration and production industry in the United States, Gulf ofMexico and internationally. The Company provides these servicesto integrated energy companies, independent oil and natural gasoperators and national oil companies. The Company operates in sixbusiness segments: Domestic Offshore, International Offshore,Inland, Domestic Liftboats, International Liftboats and DeltaTowing.

The Company reported a net loss of $134.59 million on$657.48 million of revenue for the year ended Dec. 31, 2010,compared with a net loss of $91.73 million on $742.85 million ofrevenue during the prior year.

The Company's balance sheet at Dec. 31, 2010 showed $1.99 billionin total assets, $1.14 billion in total liabilities and$853.13 million in stockholders' equity.

The Troubled Company Reporter said on November 17, 2010, Moody'sInvestors Service downgraded the Corporate Family Rating ofHercules Offshore Inc. and the Probability of Default Rating toCaa1 from B2. Moody's also downgraded Hercules' 10.5% seniorsecured notes due 2017, its senior secured revolving creditfacility due 2012, and its senior secured term loan B due 2013,all to Caa1 with LGD3, 45%. The outlook remains negative.

"The inability of Hercules to generate meaningful free cash flowdespite limited reinvestment in its aging fleet of rigs is causefor concern," commented Stuart Miller, Moody's Senior Analyst."Without a significant de-leveraging of its balance sheet,Hercules is following a path that could lead to financial hardshipat the first sign of a market softening." Hercules' Caa1 CFRrating reflects its highly leveraged balance sheet and limitedability to generate free cash flow. The Caa1 rating on the seniorsecured notes reflects their pari passu secured position inHercules' capital structure relative to the senior secured creditfacilities.

HOTEL MONACO: Pebblebrook Trust Acquires Seattle Hotel------------------------------------------------------Pebblebrook Hotel Trust announced on April 7, 2011, that it hasacquired the Hotel Monaco Seattle for $51.2 million. The 189-room, upper upscale, full-service boutique hotel is located in thecentral business district of downtown Seattle, Washington. Thehotel will continue to be managed by Kimpton Hotels & Restaurants("Kimpton"). The transaction was funded by the Company entirelywith available cash.

"We are very pleased to be acquiring the Hotel Monaco Seattle andfurther diversifying our portfolio through this investment in theSeattle market," said Jon Bortz, Chairman, President and ChiefExecutive Officer of Pebblebrook Hotel Trust. "The hotel islocated in the center of downtown Seattle, in close proximity toall of the city's major shopping, office, entertainment and dininglocations. The hotel is near Pike Place Market, Pioneer Square,the Washington State Trade & Convention Center and five ofSeattle's largest and highest quality office buildings, all ofwhich provide the hotel with a diverse array of demand drivers.Furthermore, the Seattle market historically has been subject tostrong recoveries in demand and RevPAR following economicdownturns. Increased demand, coupled with minimal lodging supplygrowth and high barriers-to-entry, provide for excellent operatingfundamentals at the hotel moving forward."

The Hotel Monaco Seattle is located at the corner of Fourth Avenueand Spring Street in the high barrier-to-entry downtown submarketof Seattle, Washington. Downtown Seattle offers premier office,dining, convention, entertainment and shopping locations, all ofwhich provide for a diverse collection of corporate, conventionand leisure demand. The hotel is in close proximity to Pike PlaceMarket, one of the nation's longest-running farmers markets and anattraction of Seattle that draws approximately 10 million visitorsannually. Pike Place Market is home to more than 220 year-roundcommercial businesses and is generally known as "The Soul ofSeattle." In addition, the hotel is within a short walk ofPioneer Square, Seattle's most historic area, which offerssightseeing opportunities, nightlife activities and boutiqueshopping, and is the epicenter of the Seattle art scene. DowntownSeattle contains over 33 million square feet of office space, andthe 726,000-square foot Washington State Trade & ConventionCenter, one of Seattle's main lodging demand drivers, which hostsbetween 40 and 50 city-wide events annually.

The Hotel Monaco Seattle is a boutique-style hotel located in thegeographic center of downtown Seattle in what was originallyconstructed in 1969 as the Pacific Northwest Bell office building.The property was converted by Kimpton to a hotel in 1997 andfeatures 189 upper upscale guestrooms, including 45 suites, withplush pillow-top beds and premium bath amenities. The hotel hasover 6,000 square feet of flexible meeting space spread acrossnine meeting rooms, including the 2,160-square foot ParisBallroom. Additionally, the Hotel Monaco Seattle has 56subterranean parking spaces and is home to Sazerac, a 135-seat,award-winning, three-meal-a-day, stand-alone restaurant and barthat offers southern-style cuisine in a contemporary and invitingatmosphere that is popular with both Seattle locals and visitorsto the city.

In 2010, the Hotel Monaco Seattle operated at 81% occupancy, withan average daily rate of $147, and RevPAR of $119, a decline ofapproximately 27% from the property's prior peak in RevPAR in2007. During the next 12 months, the Company currently forecaststhat the hotel will generate earnings before interest, taxes,depreciation and amortization ("EBITDA") of approximately $2.8 to$3.1 million and net operating income after capital reserves ofapproximately $2.3 to $2.6 million.

The Company expects to commence a comprehensive $3.0 million roomsrenovation in the fourth quarter of 2011, with completion expectedby the end of the first quarter of 2012, typically the slowestperiod in Seattle's lodging market. The Company expects theseimprovements to allow the hotel to regain its prior competitivepositioning by substantially outperforming the market's recoveryin 2012 and beyond.

The hotel will continue to be managed by Kimpton Hotels &Restaurants, which has managed the hotel since 1997. In additionto the Hotel Monaco Seattle, Kimpton also manages Pebblebrook's416-room Sir Francis Drake Hotel and 252-room Argonaut Hotel indowntown San Francisco, California, the 183-room Hotel MonacoWashington DC in downtown Washington, DC and the 140-room GrandHotel Minneapolis in downtown Minneapolis, Minnesota.

"We are very excited to further our relationship with KimptonHotels & Restaurants," continued Mr. Bortz. "They are well-educated about the urban hotel market and have a unique history ofoperating high-quality boutique properties such as the HotelMonaco Seattle."

"We are thrilled to be expanding our relationship with PebblebrookHotel Trust," said Kimpton's President, Mike Depatie. "We areextremely pleased that our strong relationship with Pebblebrookcontinues to grow, and we believe this shows a strong vote ofconfidence in Kimpton's operational expertise. We look forward tocontinued collaborative success from our relationship goingforward."

The Company expects to incur approximately $0.5 million of costsrelated to the acquisition of the Hotel Monaco Seattle that willbe expensed as incurred.

The Hotel Monaco Seattle is the eleventh acquisition for theCompany, which has invested an aggregate of $860 million in 11hotel properties since completing its initial public offering inDecember 2009.

The Company has previously announced a signed agreement topurchase one other hotel:

-- $89.5 million for a hotel in the Boston, Massachusetts region

Closing for this hotel is subject to bankruptcy court approval, aswell as the satisfaction of customary closing requirements andconditions. Accordingly, the Company can give no assurance thatthe transaction will be consummated on the terms initiallydisclosed, or at all.

San Francisco-based Kimpton Hotels & Restaurants --http://www.kimptonhotels.com/-- a collection of boutique hotels and chef-driven restaurants in the US, is an acknowledged industrypioneer and was the first to bring the boutique hotel concept toAmerica. Privately held Kimpton operates 51 hotels and 54restaurants in 24 cities.

"At the same time, we assigned a preliminary 'B+' issue-levelrating to the company's $280 million senior secured first-liencredit facilities, with a preliminary recovery rating of '2',indicating our expectation of substantial (70% to 90%) recoveryfor lenders in the event of a payment default," S&P noted.

"We also assigned a preliminary 'CCC+' issue-level rating to thecompany's $140 million second-lien term loan C, with a preliminaryrecovery rating of '6', indicating our expectation of negligible(0% to 10%) recovery for lenders in the event of a paymentdefault," S&P related.

The first-lien credit facilities consist of a $10 millionrevolving credit facility due April 2016 and a $270 millionterm loan B due April 2017. The facilities are guaranteedon a senior secured basis by the issuer's direct and indirectsubsidiaries, with certain exceptions. The second-lien term debtis guaranteed by the same entities that guarantee the company'sfirst-lien credit facility and has a junior lien on the first-liencollateral. The issuer is using the net proceeds, along with a$132 million cash equity contribution, to fund the acquisition of13 radio stations from Bonneville International Corp. HubbardBroadcasting Inc. will also be contributing one radio station.

"Our rating on Hubbard reflects the company's highly leveragedfinancial risk profile, characterized by lease-adjusted leverageof 5.8x following the transaction," said Standard & Poor's creditanalyst Jeannie Shoesmith. "Hubbard's business risk profile isweak, in our view, because of risks related to longer termstructural issues facing the radio industry, the company'ssmall station portfolio, and its revenue concentration inChicago and Washington, D.C.," S&P added.

IMAGE METRICS: Hikes Rosi Kahane Loan to $7.1 Million-----------------------------------------------------Image Metrics, Inc., entered into an amendment to its existingloan agreement with Rosi Kahane. The amendment increased the sizeof the credit facility to $7.1 million and extended the maturitydate to Jan. 31, 2013. Under the amendment, the Company isrequired to make payments starting on July 1, 2011 and on thefirst business day of each month thereafter until paid in full oron the maturity date of the facility. The scheduled paymentamount each month equals the total interest accrued on theoutstanding principal balance plus $150,000.

Borrowings under the agreement (i) are secured by a first prioritylien on all of the Company's assets, including the assets of theCompany's principal operating subsidiary, and a cross-guarantee bythat subsidiary, (ii) bear interest at 13.5% per annum, and (iii)may be converted at any time and from time to time, at the optionof the holder, into shares of the Company's common stock at anexercise price of $1.00 per share.

Holders of the notes associated with this loan are entitled toreceive 7.5% of revenue obtained from the future commercializationof the Company's Facemail offering. The holders are entitled tothis revenue share for five years after the initial commercialrelease of the Facemail offering.

As of April 1, 2011, the Company had drawn down $5,625,000 underthe loan agreement.

A full-text copy of the Amended and Restated Loan Agreement isavailable for free at http://is.gd/P8kO1Y

The Company's key intellectual property consists of one patentregistered in the United States, four additional patents inprocess, the identification of 16 potential new patents, andsignificant well-documented trade secrets.

BDO USA, LLP, in Los Angeles, expressed substantial doubt aboutImage Metrics, Inc.'s ability to continue as a going concern. Theindependent auditors noted that the Company has suffered recurringlosses from operations and has a net capital deficiency.

The Company's balance sheet at June 30, 2010, showed $1.16 millionin total assets, $13.76 million in total liabilities, and astockholders' deficit of $12.59 million.

The Company reported a net loss of $9.18 million on $4.89 millionof revenue for nine months ended June 30, 2010, compared with anet loss of $5.82 million of revenue for nine months endedJune 30, 2009.

IMH FINANCIAL: Delays Filing of 2010 Annual Report--------------------------------------------------IMH Financial Corporation informed the U.S. Securities andExchange Commission that it is unable, without unreasonable effortor expense, to file its Annual Report on Form 10-K for the fiscalyear ended Dec. 31, 2010, within the prescribed time periodbecause the Company requires additional time to finalize thecollateral reviews and valuation analyses on its loan portfolioand real estate owned in order to ensure proper recognition ofrevenues, expenses and loan loss reserve requirements. Accordingto the Company, the on-going market declines in real estate valueshave made collateral reviews and valuation analyses more difficultand complex, thereby requiring the Company to take additional timeto complete its financial information as reported on Form 10-K.Additionally, in light of current liquidity and ongoing liquidityneeds, the Company continues to evaluate reclassifyingsubstantially all of its real estate owned assets from held fordevelopment to held for sale which requires additional analysis toensure that this reclassification is presented in a manner that isconsistent with applicable accounting guidance. The Companyintends to file all documents required for its Form 10-K filingwithin 15 calendar days of the March 31, 2011 due date.

About IMH Financial

Scottsdale, Ariz.-based IMH Financial Corporation was formed fromthe conversion of IMH Secured Loan Fund, LLC, or the Fund, aDelaware limited liability company, on June 18, 2010. Theconversion was effected following a consent solicitation processpursuant to which approval was obtained from a majority of themembers of the Fund to effect the Conversion Transactions andinvolved (i) the conversion of the Fund from a Delaware limitedliability company into a Delaware corporation named IMH FinancialCorporation, and (ii) the acquisition by the Company of all of theoutstanding shares of the manager of the Fund Investors MortgageHoldings Inc., or the Manager, as well as all of the outstandingmembership interests of a related entity, IMH Holdings LLC, orHoldings on June 18, 2010.

The Company is a commercial real estate lender based in thesouthwest United States with over 12 years of experience in manyfacets of the real estate investment process, includingorigination, underwriting, documentation, servicing, construction,enforcement, development, marketing, and disposition. The Companyfocuses on a niche segment of the real estate market that itbelieves is underserved by community, regional and national banks:high yield, short-term, senior secured real estate mortgage loans.The intense level of underwriting analysis required in thissegment necessitates personnel and expertise that many communitybanks lack, yet the requisite localized market knowledge of theunderwriting process and the size of the loans the Company seeksoften precludes the regional and community banks from efficientlyentering this market.

The Company's balance sheet at Sept. 30, 2010, showed$337.80 million in total assets, $15.93 million in totalliabilities, and stockholders' equity of $321.86 million.

"Given the current state of the real estate and credit markets, webelieve the realization of full recovery of the cost basis in ourassets is unlikely to occur in a reasonable time frame and may notoccur at all, and we may be required to liquidate portions of ourassets for liquidity purposes at a price significantly below theinitial cost basis or potentially below current carrying values.If we are not able to liquidate a sufficient portion of our assetsor access credit under the credit facility currently undernegotiation, there may be substantial doubt about our ability tocontinue as a going concern. Nevertheless, we believe that ourcash and cash equivalents, coupled with liquidity derived from thecredit facility currently under negotiation and the disposition ofcertain of the loans and real estate held for sale, will allow usto fund current operations over the next 12 months," the Companysaid in its Form 10-Q for the quarter ended Sept. 30, 2010.

INDIANAPOLIS DOWNS: Files for Chapter 11 Bankruptcy---------------------------------------------------Indianapolis Downs, LLC, announced on April 7, 2011, that it and arelated entity have filed voluntary petitions in U.S. BankruptcyCourt for the District of Delaware to reorganize under Chapter 11of the United States Bankruptcy Code. The Company noted that itsfacilities will continue to operate as usual during therestructuring process and that there will be no interruption inservices.

In its filing, Indianapolis Downs stated it possesses strongunderlying fundamentals, operates on a cash positive basis andgenerates enough revenue to pay its operating expenses. However,the Company noted it has been operating with a debt burdensignificantly greater than anticipated and beyond its ability toservice under current terms. The debt largely reflects a $250million initial state-mandated license fee, as well as a highstatutory tax rate.

The Company said that, in conjunction with this filing and pendingcourt approval, it has secured debtor-in-possession (DIP)financing of approximately $103 million from a group led by WellsFargo. The facility provides for immediate access of up to $5million and will lower the Company's interest expenses.

Indianapolis Downs said it preferred to address the debtrestructuring in a consensual and negotiated "standstill" periodoutside the court process, and worked earnestly with its lendersto accomplish that objective. However, it was unable to negotiatethe necessary outcome, and faced expiration of the forbearanceagreement on its loan.

"This filing is unlike many debt restructuring cases becauseIndianapolis Downs has steadily grown its revenue and market sharesince opening," stated Gregory F. Rayburn, Chief RestructuringOfficer. "Indiana Live! and Indiana Downs racino is anoperationally profitable, but new, business that has not yetachieved its full potential.

"As a result, we see this decision as an enabling step for ourCompany, as the process will allow us to restructure our debt,make operational improvements and benefit from other availablevalue enhancements. Most importantly, this process will provideIndianapolis Downs with the time we need to enhance our enterprisevalue and the value of our secured lenders' collateral."

To ensure there is no interruption in services, and customerscontinue to enjoy the latest slot machines, electronic tablegames, live entertainment, award-winning dining and live racingthat they have come to expect of Indiana Live! Casino and IndianaDowns racetrack, the Company is seeking approval from the courtfor a variety of First Day Motions. These motions includerequests to maintain and honor its Live! Rewards Club and IndianaDowns Players Club customer programs, maintain and honorpromotional programs, and make wage and salary payments and otherbenefits to employees and agents. Additionally, the Companyintends to pay providers of goods and services delivered post-petition in the ordinary course of business, and will seekapproval to pay certain vendors for goods and services deliveredpre-petition.

Indianapolis Downs is committed to communicating to each of itsstakeholders throughout this process. The Company added that thisdevelopment will have no adverse impact on horse racing at IndianaDowns in 2011 or at any time within the foreseeable future.

About Indianapolis Downs LLC

Indianapolis Downs, LLC, which does business as Indiana Downsracetrack and Indiana Live! Casino, operates a state-of-the-art283-acre "racino" in Shelbyville, Indiana, as well as twosatellite wagering facilities in Evansville and Clarksville,Indiana. The track, which opened in December 2002, offers liveracing seven months of the year, and a full-card simulcastwagering facility featuring thoroughbred, quarter horse andharness races from around the country. The track also houses afull-service restaurant and lounge, an arcade, a gift shop and afamily entertainment center. The casino has more than 2,000 high-tech slot machines and electronic table games, a poker room andseveral branded dining and entertainment options.

INTERNATIONAL COAL: 4% and 9% Sr. Notes Have Become Convertible---------------------------------------------------------------International Coal Group, Inc., announced that, pursuant to termsof the indenture and first supplemental indenture governing its$115,000,000 aggregate principal amount of 4.00% ConvertibleSenior Notes due 2017, the 2017 Notes are now convertible at theoption of holders during the period from April 1, 2011 through andincluding June 30, 2011. The Company also announced that,pursuant to terms of the indenture governing its remaining$731,000 aggregate principal amount of 9.00% Convertible SeniorNotes due 2012, the 2012 Notes are now convertible at the optionof holders during the period from April 1, 2011 through andincluding June 30, 2011.

The Notes become convertible as of April 1, 2011 because theclosing sale price of the Company's common stock, par value $0.01per share, on the New York Stock Exchange exceeded the conversiontrigger price of $7.55 per share for the 2017 Notes and $7.93 pershare for the 2012 Notes (130% of the applicable conversion pricesof approximately $5.81 per share for the 2017 Notes andapproximately $6.10 per share for the 2012 Notes) for each of 20or more trading days in the period of 30 consecutive trading daysending on March 31, 2011. The last reported sale price of theCommon Stock on the New York Stock Exchange on March 31, 2011 was$11.30 per share.

Whether the Notes will be convertible at any time after June 30,2011 will depend upon whether any of the conversion conditionsspecified in the respective indentures are satisfied, includingwhether the price of the Common Stock exceeds the applicableconversion trigger prices for the requisite number of trading daysduring subsequent quarters.

Upon any conversion of the Notes, the principal amount of theNotes will be settled in cash, and any excess conversion value maybe settled in cash or in shares of Common Stock, at the option ofthe Company. If holders elect to convert any Notes, the Companyexpects to fund the cash portion of any settlement of the Notesusing cash on hand.

To convert any Notes, holders must (1) complete and manually signthe conversion notice attached to the Note, with appropriatesignature guarantee; (2) surrender the Notes to the ConversionAgent; (3) furnish appropriate endorsements and transfer documentsif required by the Conversion Agent; (4) pay the amount ofinterest, if any, the holder must pay in accordance with Section9.02(E) of the first supplemental indenture governing the 2017Notes or Section 10.02(D) of the 2012 Notes, as applicable; and(5) pay any tax or duty if required pursuant to Section 9.04 ofthe first supplemental indenture governing the 2017 Notes orSection 10.03 of the 2012 Notes, as applicable. If a holder holdsa beneficial interest in a 2017 Note issued in the form of aglobal note, to convert such 2017 Note, the holder must complywith clauses (4) and (5) in the preceding sentence and TheDepository Trust Company's procedures for converting suchbeneficial interest. For additional information regarding how toconvert your Notes contact the Conversion Agent at: 2 North LaSalle Street, Chicago, Illinois 60602, Telephone: (312) 827-8548,Facsimile: (312) 827-8542, Attention: Corporate TrustAdministration.

About International Coal Group

Scott Depot, West Virginia-based International Coal Group, Inc.(NYSE: ICO) produces coal in Northern and Central Appalachia andthe Illinois Basin. The Company has 13 active mining complexes,of which 12 are located in Northern and Central Appalachia, andone in Central Illinois. ICG's mining operations and reserves arestrategically located to serve utility, metallurgical andindustrial customers throughout the eastern United States.

The Company reported reported net income of $30.11 million on$1.17 billion of total revenue for the year ended Dec. 31, 2010,compared with net income of $21.52 million on $1.12 billion oftotal revenue during the prioryear.

The Company's balance sheet at Dec. 31, 2010 showed $1.48 billionin total assets, $725.43 million in total liabilities and$754.26 million in total stockholders' equity.

INTERNATIONAL ENERGY: Files Schedules of Assets & Liabilities-------------------------------------------------------------International Energy Holdings Corp. has filed with the U.S.Bankruptcy Court for the Middle District of Florida its schedulesof assets and liabilities, disclosing:

INTERNATIONAL ENERGY: Sec. 341(a) Meeting Scheduled for April 28----------------------------------------------------------------The U.S. Trustee for Region 21 will convene a meeting ofInternational Energy Holdings Corp.'s creditors on April 28, 2011,at 1:30 p.m. The meeting will be held at Room 100-B, 501 EastPolk St., (Timberlake Annex), Tampa, Florida.

This is the first meeting of creditors required under Section341(a) of the U.S. Bankruptcy Code in all bankruptcy cases.All creditors are invited, but not required, to attend. ThisMeeting of Creditors offers the one opportunity in a bankruptcyproceeding for creditors to question a responsible office of theDebtor under oath about the company's financial affairs andoperations that would be of interest to the general body ofcreditors.

JETBLUE AIRWAYS: Amended A320 Purchase Pact Kept Confidential--------------------------------------------------------------JetBlue Airways Corporation submitted an application under Rule24b-2 requesting confidential treatment for information itexcluded from the Exhibits to a Form 10-K filed on Feb. 25, 2011.Based on representations by JetBlue Airways Corporation that thisinformation qualifies as confidential commercial or financialinformation under the Freedom of Information Act, 5 U.S.C.552(b)(4), the Division of Corporation Finance has determined notto publicly disclose it. Accordingly, excluded information fromthe Amendment No.35 to the A320 Purchase Agreement dated as ofApril 20, 1999, will not be released to the public until Dec. 31,2016.

JetBlue carries 'Caa1' long term corporate family and probabilityof default ratings, with positive outlook, from Moody's. It has a'B-' long term issuer default rating, with stable outlook, fromFitch. It also has a 'B-' issuer credit ratings from Standard &Poor's.

In November 2010, Standard & Poor's Ratings Services affirmed itsratings, including its 'B-' corporate credit rating, on ForestHills, New York-based JetBlue Airways Corp. At the same time, S&Prevised its outlook on the rating to positive from stable. Therecovery rating on senior unsecured debt remains '6', indicatingS&P's expectations of a negligible (0%-10%) recovery in a defaultscenario. S&P noted that while JetBlue has been profitable in sixof the last seven quarters, its financial profile remains highlyleveraged, with EBITDA interest coverage of 2.5x, funds flow todebt of 15.7%, and debt to capital of 75.2%.

JUNIPER GROUP: Delays Filing of 2010 Annual Report--------------------------------------------------Juniper Group, Inc., informed the U.S. Securities and ExchangeCommission that its Annual Report on Form 10-K for the year endedDec. 31, 2010, could not be filed within the prescribed periodbecause the Company was unable to compile certain informationrequired in order to permit the Company to file a timely andaccurate report on the Company's financial condition. Thisinability could not have been eliminated by the Company withoutunreasonable effort or expense, the Company said.

About Juniper Group

Boca Raton, Fla.-based Juniper Group, Inc., is a holding company.The Company was incorporated in the State of Nevada in 1997 andconducts its business through indirect wholly-owned subsidiaries.

The Company's wireless infrastructure services operatingsubsidiaries primarily focus their activities in the Eastern andCentral United States. The Company's intention is to be able tosupport the increased demand in the deployment of wirelessinfrastructure services with leading wireless telecommunicationcompanies in providing them with maintenance and upgrading ofwireless telecommunication network sites, site acquisitions, sitesurveys, co-location facilitation, tower construction and antennainstallation to tower system integration, hardware and softwareinstallations.

The Company's balance sheet at Sept. 30, 2010, showed $1,083,429in total assets, $29,323,950 in total liabilities, and astockholders' deficit of $28,240,521.

As reported by the Troubled Company Reporter on December 28, 2010,Liebman Goldberg & Hymowitz, LLP, in Garden City, New York,expressed substantial doubt about Juniper Group, Inc.'s ability tocontinue as a going concern, following the Company's 2009 results.The independent auditors noted that the Company has a workingcapital deficiency and has suffered recurring losses fromoperations.

KENTUCKY ENERGY: Delays Filing of 2010 Annual Report----------------------------------------------------Kentucky Energy, Inc., informed the U.S. Securities and ExchangeCommission that there will be a delay in filing the Company'sAnnual Report on Form 10-K for the year ended Dec. 31, 2010,because the Company needs additional time to complete the reportand its auditors need additional time to complete the audit of theCompany's financial statements for the year ended Dec. 31, 2010.

About Kentucky Energy

Paterson, N.J.-based Kentucky Energy, Inc. (formerly QuestMinerals & Mining Corp.) acquires and operates energy and mineralrelated properties in the southeastern part of the United States.The Company focuses its efforts on operating properties thatproduce quality compliance blend coal, generating revenues andcash flow through the mining, processing, and selling of the coallocated on these properties.

The Company is a holding company for Quest Minerals & Mining,Ltd., a Nevada corporation, which in turn is a holding company forQuest Energy, Ltd., a Kentucky corporation, and of Gwenco, Inc., aKentucky corporation. Quest Energy, Ltd., is the parentcorporation of E-Z Mining Co., Inc, a Kentucky corporation, and ofQuest Marine Terminal, Ltd., a Kentucky corporation.

Gwenco leases over 700 acres of coal mines, with approximately12,999,000 tons of coal in place in six seams. In 2004, Gwencohad reopened Gwenco's two former drift mines at Pond Creek andLower Cedar Grove, and had begun production at the Pond Creekseam. This seam of high quality compliance coal is located atSlater's Branch, South Williamson, Kentucky.

In 2009, the United States Bankruptcy Court for the EasternDistrict of Kentucky confirmed Gwenco's Plan of Reorganizationpursuant to Chapter 11 of the U.S. Bankruptcy Code. The Planbecame effective on October 12, 2009.

RBSM, LLP, in New York, expressed substantial doubt about QuestMinerals' ability to continue as a going concern, following its2009 results. The independent auditors noted that the Company hassuffered recurring losses from operations and that its onlyoperating subsidiary, Gwenco, Inc., has filed for reorganizationunder Chapter 11 of U.S. Bankruptcy Code.

The Company's balance sheet at Sept. 30, 2010, showed$5.44 million in total assets, $9.18 million in total liabilities,and a stockholders' deficit of $3.74 million.

KIEBLER SLIPPERY: Court Enters Final Decree Closing Chap. 11 Case-----------------------------------------------------------------At the behest of The Committee of Unsecured Creditors of KieblerSlippery Rock, L.L.C., the U.S. Bankruptcy Court for the NorthernDistrict of Ohio entered a final decree closing Kiebler's Chapter11 proceedings on March 29, 2011.

According to the Committee, the order confirming Kiebler's Plan ofLiquidation was entered on January 31, 2011, and the Committee'scounsel has made the distributions set forth in the Plan andapproved in the Confirmation Order.

The Court has also approved and granted in full amounts the finalapplication for compensation and reimbursement of expenses forBrouse McDowell, the Committee's attorney. Accordingly, alladministrative payments of the estate have been paid and theChapter 11 proceedings of the Debtor have been fully administered.

Kings Ranch is a holder and owner of a promissory note and deed oftrust secured by an interest in the Debtor's real property, KingsRanch Estates. As of the commencement instant case on March 29,2011, the balance due K Ranch was $2,992,116, plus accrued andaccruing interest costs and fees.

K Ranch had scheduled a trustee's sale for March 28, 2011, but thecommencement of the bankruptcy case has stayed that trustee's saleand the scheduled UCC sale of personal property.

K Ranch has incurred, or may incur, certain costs, including,without limitation, attorneys' fees, taxes, insurance premiums,court costs, deed of trust trustee's fees, costs of sale and othercosts, all of which are secured by loan documents.

K Ranch does not have, nor has it been offered, adequateprotection for its interest in the Property. According to KRanch, there has been no offer of adequate protection to K Ranchto protect the value of the collateral.

K Ranch is unaware that the Debtor has properly placed insurancecoverage for the Property. K Ranch has not been paid anypostpetition payments.

Acquavella, Chiarelli, Shuster, Berkower & Co., LLP, in Iselin,N.J., expressed substantial doubt about Lattice Incorported'sability to continue as a going concern. The independent auditorsnoted that the Company requires additional working capital to meetits current liabilities.

The Company reported a net loss of $1.4 million on $13.5 millionfor 2010, compared with a net loss of $1.3 million on$15.6 million for 2009.

At Dec. 31, 2010, the Company's balance sheet showed $9.1 millionin total assets, $6.7 million in total liabilities, andstockholders' equity of $2.4 million.

LECG CORP: Provides Update on State of the Firm-----------------------------------------------Professional services firm LECG Corporation announced a number ofevents related to its previously-announced transition of itspractice groups to other firms. These transitions will not resultin any proceeds to the Company's common stockholders and it is notanticipated that future operations will result in any proceeds tothe Company's common stockholders.

Practice Group Transactions

On March 31, 2011, the firm completed the previously-announcedsale of LECG's European forensics, economics, and tax practices toFTI Consulting, Inc. The transaction included approximately 100professionals and staff in London, Madrid, Paris, and Brussels.

The aggregate purchase price in the transaction was approximately$25 million, which includes the assumption by FTI of approximately$6 million of LECG's existing, non-intercompany liabilities. FTIalso assumed substantially all of LECG's European leaseliabilities associated with these practices.

In addition, the Company closed, or expects to close, thefollowing transactions:

* The sale of its U.K.-based business consulting practice, the second part of the previously-announced agreement with Grant Thornton

* The sale of its retail securities practice in Lake Oswego, Oregon, to the management team of that practice

* The sale of its insurance tax and actuarial practices to a multi-national accounting firm

* The sale of its legal technology practice to Huron Consulting

* Various other sales of smaller practices to other firms, expert groups or individuals

These transactions involved some or all of the following:

* Consideration for the Company releasing non-compete covenants

* The sale of accounts receivable, work-in-progress, equipment and other assets

* Assignment or assumption of certain leases and other liabilities

William Blair & Company served as an independent advisor to LECGon these transactions.

The firm now has fewer than 70 employees, the majority of whommanagement expects to leave within the next 30 days.

Debt Service

As previously announced, most of the aggregate net proceeds fromthese and prior transactions were used to retire the Company'ssenior secured debt, including the payment of associated interestand fees.

No Proceeds for Common Stockholders

The outcome of these transactions will not result in any proceedsfor the common stockholders. The Company currently anticipatesusing any remaining proceeds to satisfy the Company's remainingliabilities and to fund the Company's operations during the wind-down of its business. Contractually, if there is any remainingvalue available to equity holders, it would be first allocated tothe Company's outstanding preferred stock to the extent of itsliquidation preference.

Conversion of Preferred Stock

The Company also announced that on March 31, 2011, Great HillEquity Partners III, L.P., and Great Hill Investors entered intoan exchange transaction with the Company. In the exchangetransaction, the Great Hill Entities cancelled 3,787,878 shares ofSeries A Convertible Redeemable Preferred Stock and the dividendsaccrued on those shares in exchange for 54,003,770 of newly issuedshares of common stock. The cancelled preferred shares had aliquidation preference of $15 million and were exchanged at a rateof $.30 per share of common stock, representing approximately a46% premium to the thirty-day average trading price. Followingthe exchange transaction, the Great Hill Entities continue to hold2,525,253 shares of Series A Convertible Redeemable PreferredStock, with a liquidation preference of $10 million, and ownapproximately 71 percent of the Company's outstanding commonstock.

Resignation of Directors

On March 31, 2011, Alison Davis, Michael E. Dunn and Ruth M.Richardson tendered their resignations from the board.

The Nasdaq Stock Market Listing

On March 28, 2011, the Company received a letter from the NasdaqListing Qualifications Department of The Nasdaq Stock Market,notifying the Company of its failure to comply with the ListingRule that requires listed securities to maintain a minimum bidprice of $1.00 per share. The Company's common stock has closedbelow the minimum $1.00 per share requirement for the last 30consecutive business days. In accordance with the Listing Rules,the Company has a compliance period of 180 calendar days, or untilSept. 26, 2011, in which to regain compliance or else it will bedelisted.

The Company does not expect to resolve the deficiency or to regaincompliance with the Listing Rules. In light of the transactionsclosed, the Company anticipates that it will be de-listed soonerthan Sept. 26, 2011 and may request that its shares be delisted.

About LECG

LECG is a global litigation, economics, consulting and businessadvisory, and governance, assurance, and tax expert services firmwith approximately 1,100 employees in offices around the world.

LECG and certain of its subsidiaries are parties to a CreditAgreement dated as of May 15, 2007, as amended, with the Bank ofMontreal and the syndicate bank members under the CreditAgreement. On Feb. 28, 2011, the parties to the Credit Agreemententered into the Tenth Amendment and Limited Duration Waiver tothe Credit Agreement, which among things waived LECG's failure tobe in compliance with certain representations and warranties andfinancial and non-financial covenants under the facility.

The Limited Duration Waiver is the fourth the Company has receivedsince Nov. 15, 2010. The Term Credit Facility matures on March31, 2011 and approximately $27.8 million is outstanding under thefacility. The Company said it does not have sufficient resourcesto repay amounts outstanding under the facility at this time.

LIFECARE HOLDINGS: Incurs $1.89 Million Net Loss in Dec. 31 Qtr.----------------------------------------------------------------LifeCare Holdings Inc. reported a net loss of $1.89 million on$87.12 million of net patient service revenue for the three monthsended Dec. 31, 2010, compared with net income of $4.81 million on$89.38 million of net patient service revenue for the same sameperiod during the prior year.

The Company's balance sheet at Dec. 31, 2010 showed$477.19 million in total current assets, $488.67 million in totalliabilities and a $11.48 million in stockholders' deficit.

A full-text copy of the press release announcing the financialresults is available for free at http://is.gd/EZXmrj

About LifeCare Holdings

Plano, Tex.-based LifeCare Holdings, Inc. --http://www.lifecare-hospitals.com/-- operates 19 hospitals located in nine states, consisting of eight "hospital within ahospital" facilities (27% of beds) and 11 freestanding facilities(73% of beds). Through these 19 long-term acute care hospitals,the Company operates a total of 1,057 licensed beds and employapproximately 3,200 people, the majority of whom are registered orlicensed nurses and respiratory therapists. Additionally, theCompany holds a 50% investment in a joint venture for a 51-bedLTAC hospital located in Muskegon, Michigan.

In November 2010, Standard & Poor's Ratings lowered its corporatecredit rating on LifeCare Holdings to 'CCC-' from 'CCC+'. "Thedowngrade reflects the imminent difficulty the company mayhave in meeting its bank covenant requirements and the risk of itsuccessfully refinancing significant debt maturing in 2011 and2012," said Standard & Poor's credit analyst David Peknay. Thelikelihood of a debt covenant violation is heightened by thecompany's lack of appreciable operating improvement coupled with alarge upcoming tightening of is debt covenant in the first quarterof 2011. Additional equity by the company's financial sponsor maybe necessary to avoid a covenant violation. Accordingly, S&Pbelieves the chances of bankruptcy have increased.

LITHIUM TECHNOLOGY: Incurs $7.25 Million Net Loss in 2010---------------------------------------------------------Lithium Technology Corporation filed with the U.S. Securities andExchange Commission its annual report on Form 10-K, reporting anet loss of $7.25 million on $6.35 million of products andservices sales for the year ended Dec. 31, 2010, compared with anet loss of $10.51 million on $7.37 million of product andservices sales during the prior year.

The Company's balance sheet at Dec. 31, 2010 showed $10.78 millionin total assets, $34.16 million in total liabilities and $23.38million in total stockholders' deficit.

Amper, Politziner & Mattia, LLP, Edison, New Jersey, noted thatthe Company has recurring losses from operations since inceptionand has a working capital deficiency that raise substantial doubtabout its ability to continue as a going concern.

$7 Mil. Funding Needed

The Company has recently entered into a number of financingtransactions and is continuing to seek other financinginitiatives. The Company said it will need to raise additionalcapital to meet its working capital needs and to complete itsproduct commercialization process. Such capital is expected tocome from the sale of securities and debt financing. The Companybelieves that if it raises approximately $7 million in debt andequity financings, the Company would have sufficient funds to meetits needs for working capital and capital expenditures and to meetexpansion plans during 2011. If the Company is not able to raisesuch additional capital, the Company will assess all availablealternatives including a sale of the Company's assets or merger,the suspension of operations and possibly liquidation, auction,bankruptcy, or other measures.

Plymouth Meeting, Pa.-based Lithium Technology Corporation is amid-volume production stage company that develops large formatlithium-ion rechargeable batteries to be used as a new powersource for emerging applications in the automotive, stationarypower, and national security markets.

LIZ CLAIBORNE: Closes Senior Secured Notes Offering---------------------------------------------------Liz Claiborne, Inc., announced Thursday that it has completed itsoffering of $220.0 million aggregate principal amount of 10.50%Senior Secured Notes due 2019. The previously announced offeringof $205.0 million aggregate principal amount of Notes wasincreased to $220.0 million aggregate principal amount on April 5,2011. The Notes, which mature on April 15, 2019, are senior,secured obligations of the Company and will pay interest semi-annually at a rate of 10.50% per annum.

The Company expects that the total net proceeds from the offeringwill be approximately $214.0 million, after deducting the initialpurchasers' discount and estimated offering fees and expenses.The Company is using the net proceeds of the offering primarily tofund the previously announced cash tender offer to purchase up toeuro 155.0 million of its outstanding euro 350.0 million 5.0%Notes due 2013, of which euro 128.5 million were tendered by thetime the Tender Offer expired. The Tender Offer is expected tosettle on April 8, 2011. The remaining proceeds will be used forgeneral corporate purposes.

The Notes were offered to qualified institutional buyers pursuantto Rule144A under the Securities Act of 1933, as amended and topersons outside of the United States in compliance withRegulations under the Securities Act. The issuance and sale ofthe Notes have not been registered under the Securities Act, andthe Notes may not be offered or sold in the United States absentregistration or an applicable exemption from registrationrequirements.

About Liz Claiborne

Liz Claiborne Inc. -- http://lizclaiborneinc.com-- designs and markets a global portfolio of retail-based premium brandsincluding Juicy Couture, Kate Spade, Lucky Brand and Mexx. TheCompany also has a refined group of department store-based brandswith strong consumer franchises including the Monet family ofbrands, Kensie, Kensiegirl, Mac & Jac, and the licensed DKNY(R)Jeans and DKNY(R) Active brands. The Dana Buchman and Axcessbrands are sold at Kohl's, and beginning in Fall 2010, the LizClaiborne and Claiborne brands will be available at JCPenney andthe Liz Claiborne New York brand designed by Isaac Mizrahi will beavailable at QVC and internationally.

* * *

As reported in the Troubled Company Reporter on March 30, 2011,Standard & Poor's Ratings Services said that it assigned itspreliminary 'B-' issue-level rating to New York City-based LizClaiborne Inc.'s proposed $200 million senior secured notes due2019. The recovery rating is a preliminary '3', indicating S&P'sexpectation of meaningful (50% to 70%) recovery in the event of apayment default.

At the same time, S&P revised its recovery rating on LizClaiborne's existing 5% euro notes due 2013 and 6% convertiblenotes due 2014 to '6' from '5'. The '6' recovery rating indicatesS&P's expectation of negligible (0% to 10%) recovery in the eventof a payment default. As a result of this recovery ratingrevision, S&P has lowered the issue-level rating on the 6%convertible notes to 'CCC' (two notches lower than the corporatecredit rating) from 'CCC+' and removed it from CreditWatch. Allother ratings remain on CreditWatch with negative implications,where they were placed on March 11, 2011, following the company'stender offer announcement.

LIZ CLAIBORNE: Accept Valid Tenders for Euro Notes--------------------------------------------------Liz Claiborne, Inc., on April 7, 2011, announced its decision toaccept valid tenders of Notes for repurchase in its offer topurchase certain of its EUR350.0 million 5.0% Notes due 2013.

The Offer expired at 5:01 a.m. London time (12:01 a.m. New Yorktime) on April 5, 2011, and at such time, EUR128.5 million ofNotes had been tendered into the Offer. The Company has decidedto accept valid tenders of Notes for repurchase pursuant to theOffer. The Offer is expected to settle on April 8, 2011.

Merrill Lynch International and J.P. Morgan Securities Ltd. arethe Dealer Managers for the Offer (the "Dealer Managers"), andDeutsche Bank AG, London Branch is the Tender Agent.

About Liz Claiborne

Liz Claiborne Inc. -- http://lizclaiborneinc.com-- designs and markets a global portfolio of retail-based premium brandsincluding Juicy Couture, Kate Spade, Lucky Brand and Mexx. TheCompany also has a refined group of department store-based brandswith strong consumer franchises including the Monet family ofbrands, Kensie, Kensiegirl, Mac & Jac, and the licensed DKNY(R)Jeans and DKNY(R) Active brands. The Dana Buchman and Axcessbrands are sold at Kohl's, and beginning in Fall 2010, the LizClaiborne and Claiborne brands will be available at JCPenney andthe Liz Claiborne New York brand designed by Isaac Mizrahi will beavailable at QVC and internationally.

* * *

As reported in the Troubled Company Reporter on March 30, 2011,Standard & Poor's Ratings Services said that it assigned itspreliminary 'B-' issue-level rating to New York City-based LizClaiborne Inc.'s proposed $200 million senior secured notes due2019. The recovery rating is a preliminary '3', indicating S&P'sexpectation of meaningful (50% to 70%) recovery in the event of apayment default.

At the same time, S&P revised its recovery rating on LizClaiborne's existing 5% euro notes due 2013 and 6% convertiblenotes due 2014 to '6' from '5'. The '6' recovery rating indicatesS&P's expectation of negligible (0% to 10%) recovery in the eventof a payment default. As a result of this recovery ratingrevision, S&P has lowered the issue-level rating on the 6%convertible notes to 'CCC' (two notches lower than the corporatecredit rating) from 'CCC+' and removed it from CreditWatch. Allother ratings remain on CreditWatch with negative implications,where they were placed on March 11, 2011, following the company'stender offer announcement.

LOCATEPLUS HOLDINGS: Delays Filing of 2010 Annual Report--------------------------------------------------------LocatePlus Holdings Corporation said it was not able to file atimely Form 10-K for the year ended Dec. 31, 2010 due to the needof additional time by the Company's auditing firm to completetheir review of the financial statements.

The Company has sustained net losses of $639,916 and $2.8 millionfor the fiscal periods ended Sept. 30, 2010, and Dec. 31, 2009,respectively. The Company has an accumulated deficit of$53.9 million, a stockholders' deficit of $9.0 million and aworking capital deficit of $6.3 million at Sept. 30, 2010.These factors raise substantial doubt about the Company's abilityto continue as a going concern.

The Company's balance sheet at Sept. 30, 2010, showed$2.5 million in total assets, $11.5 million in total liabilities,and a stockholders' deficit of $9.0 million.

"The outlook remains negative, reflecting the risk of potentialconstruction delays that may cause a technical default ifcommercial operations are not achieved by Aug. 31," said Standard& Poor's credit analyst Swami Venkataraman. "The current expectedcompletion date is Aug. 5."

Longview is a single-unit 695-megawatt (net) supercritical,pulverized coal-fired electric generating facility located inMonongalia County, W. Va., in the PJM market.

LTAP US: Wells Fargo Settlement Approved; Case Dismissal Next-------------------------------------------------------------Bill Rochelle, the bankruptcy columnist for Bloomberg News,reports that LTAP US LLP was authorized by a bankruptcy judgeon April 1 to turn over assets to Wells Fargo Bank NA, owed$252 million. LTAP's capitulation resulted from an opinion by thebankruptcy judge marking the death knell for the Chapter 11 casebegun in December. U.S. Bankruptcy Judge Kevin Gross in Delawaregave the bank the right to foreclose when he simultaneouslyrefused to approve $40 million in financing that would have comeahead of the bank's lien. The new money would have been used topay premiums on life insurance policies. The bank has the abilityto cause the Chapter 11 case to be dismissed not less than 30 daysafter the settlement is carried out.

Operating since 2003, LTAP US holds 410 policies on 313 lives,with an aggregate death benefits of approximately $1.36 billion.Berlin Atlantic Capital US -- BACH -- and SLG Life Settlements LLCalso provide support to the operations. SLG, a subsidiary ofBACH, which is wholly owned by Berlin Atlantic Holding, is theservicer for the Policies.

MARTIN CADILLAC: Dismissal/Conversion Hearing Moved to Apr. 13--------------------------------------------------------------The hearing to consider the motion to dismiss, or in thealternative, convert the Chapter 11 case of Martin Cadillac, LLC,to one under Chapter 7 of the Bankruptcy Code, has been moved toApril 13, 2011.

As reported by the Troubled Company Reporter on January 18, 2011,the U.S. Trustee is asking the U.S. Bankruptcy Court for theDistrict of New Jersey to dismiss or convert the Debtor's case dueto substantial or continuing loss to the estate.

"At the same time, we assigned our 'B+' issue-level rating, and'5' recovery rating to Masonite International Corp.'s proposedUS$250 million senior unsecured notes. The '5' recovery rating onthese notes indicates our expectation of modest (10%-30%) recoveryin the event of default. Half of the proceeds from the notes willbe used to pay out a special dividend to existing shareholders andthe remaining will be used for acquisition purposes," S&Pexplained.

"The rating on Masonite reflects our view of the company as oneof the world's largest door manufacturers, with historicallystable profitability and cash flow," said Standard & Poor's creditanalyst Jatinder Mall. "These strengths are partially offset, inour opinion, by Masonite's exposure to the cyclical North Americanhousing construction market, expectations of weak profitabilityfor the near term, and customer concentration," Mr. Mall added.

Masonite is one of the world's largest producers of both interiorand exterior doors, with a significant market share in its primaryNorth American market. It has vertically integrated operations,with 54 facilities in 13 countries. North America accounts forabout two-thirds of company sales, while Europe and the rest ofthe world account for the balance.

The stable outlook reflects Standard & Poor's expectations that,given slow economic recovery, Masonite will continue to generatemodest positive cash flows and leverage will remain in the 3.0x-3.5x range in the near term. "While current operating margins aresupportive of the rating, we could lower the rating if operatingmargins decline unexpectedly due to low housing starts in the U.S.or if Masonite loses a major customer, leading to a leverage ratiothat is greater than 4x. An upgrade would require meaningfulimprovement in the U.S. housing construction market leading toimproved profitability and for Masonite to demonstrate that it cansustain a leverage ratio of below 3x," S&P stated.

Bernstein & Pinchuk, LLP, in New York, expressed substantial doubtabout Matches, Inc.'s ability to continue as a going concern. Theindependent auditors noted that the Company has negative workingcapital as of Dec. 31, 2010, and 2009.

The Company reported net income of $5.0 million on $79.9 millionof sales for 2010, compared with net income of $4.8 million on$49.5 million of sales for 2009.

At Dec. 31, 2010, the Company's balance sheet showed $55.0 millionin total assets, $40.0 million in total liabilities, andstockholders' equity of $15.0 million.

Based in Jiangsu Province, China, Matches, Inc. (MTXS.OB) is aWyoming corporation. The Company acquired on Dec. 22, 2010,Golden Stone Rising, Ltd., a British Virgin Islands Company, that,through its PRC subsidiaries and controlled companies, is engagedin the production, sale and distribution of polyester fiber inChina. The PRC operating companies controlled by Golden Stone areSuzhou Jinkai Textile Co., Ltd., and Suzhou Hangyu Textile Co.,Ltd. These businesses produce pre-oriented yarn as well as drawtexturing yarn, in various sizes and configurations. Polyesterfiber is made from Polyethylene Terephthalate, commonly known asPET, a thermoplastic polymer resin which is refined from oil.

The transaction was regarded as a reverse merger whereby GoldenStone Rising was considered to be the accounting acquirer. Assuch, Golden Stone Rising (and its historical financialstatements) is the continuing entity for financial reportingpurposes. The financial statements have been prepared as ifGolden had always been the reporting company and then on the shareexchange date, had reorganized its capital stock.

As of Feb. 28, 2011, (i) the affiliated entities collectivelybeneficially own claims in the aggregate principal amount of$69,654,132 against the Debtors, and (ii) WMNM individuallybeneficially owns claims in the aggregate principal amount of$55,096,419 against the Debtors.

About Mesa Air

Mesa Air currently operates 76 aircraft with approximately 450daily system departures to 94 cities, 38 states, the District ofColumbia, and Mexico. Mesa operates as US Airways Express andUnited Express under contractual agreements with US Airways andUnited Airlines, respectively, and independently as go! Mokulele.This operation links Honolulu to the neighbor island airports ofHilo, Kahului, Kona and Lihue. The Company was founded by Larryand Janie Risley in New Mexico in 1982.

Mesa Air Group Inc. and its units filed their Chapter 11 petitionsJan. 5 in New York (Bankr. S.D.N.Y. Case No. 10-10018), listingassets of $976 million against debt totaling $869 million as ofSept. 30, 2009.

Judge Martin Glenn entered a final order confirming the ThirdAmended Joint Plan of Reorganization of Mesa Air Group, Inc., andits debtor affiliates on January 20, 2011. Under the plan, thereorganized company will issue new notes, common stock andwarrants to creditors. Unsecured creditors that are U.S. citizenswill receive a combination of new notes and new common stock,while unsecured creditors that are Non-U.S. citizens will receivea combination of new notes and new warrants. An agreement with USAirways paved way for the filing of the plan.

Mesa Air's Plan of Reorganization became effective March 1, 2011.The Company's restructuring accomplishments included eliminationof 100 excess aircraft and associated leases and debt whichcontributed to the deleveraging of Mesa's balance sheet in theapproximate amount of $700 million in capitalized leases and$50 million in debt, and extending the term of the code-shareagreement with US Airways through September 2015.

MESA AIR: U.S. Bank Transfers Claims to Various Entities--------------------------------------------------------On March 3, 2011, the Bankruptcy Clerk recorded the transfer ofU.S. Bank National Association's claims to these entities:

Claim Nos. 1566, 1572, 1573, 1530, 1536, and 1537 have beenallowed in the aggregate amount of $69,654,132 in accordance withthe Court's February 18, 2011 Order approving the settlement ofcertain claims filed by U.S. Bank for the benefit of AgenciaEspecial de Financiamento Industrial-Finame.

Claim Nos. 1574, 1538, 1567, 1531, 1590, 1554, 1569, and 1533have been allowed in the aggregate amount of $106,111,348 inaccordance with the Court's February 18, 2011 Order approving thesettlement of certain claims filed by U.S. Bank for the benefitof Finame.

Claim Nos. 1393 and 1401 were filed by Wilmington Trust Company,solely as a mortgagee, to the extent of $2,600,000 per claim -- atotal of $5,200,000 -- as assigned to CIT Capital.

About Mesa Air

Mesa Air currently operates 76 aircraft with approximately 450daily system departures to 94 cities, 38 states, the District ofColumbia, and Mexico. Mesa operates as US Airways Express andUnited Express under contractual agreements with US Airways andUnited Airlines, respectively, and independently as go! Mokulele.This operation links Honolulu to the neighbor island airports ofHilo, Kahului, Kona and Lihue. The Company was founded by Larryand Janie Risley in New Mexico in 1982.

Mesa Air Group Inc. and its units filed their Chapter 11 petitionsJan. 5 in New York (Bankr. S.D.N.Y. Case No. 10-10018), listingassets of $976 million against debt totaling $869 million as ofSept. 30, 2009.

Judge Martin Glenn entered a final order confirming the ThirdAmended Joint Plan of Reorganization of Mesa Air Group, Inc., andits debtor affiliates on January 20, 2011. Under the plan, thereorganized company will issue new notes, common stock andwarrants to creditors. Unsecured creditors that are U.S. citizenswill receive a combination of new notes and new common stock,while unsecured creditors that are Non-U.S. citizens will receivea combination of new notes and new warrants. An agreement with USAirways paved way for the filing of the plan.

Mesa Air's Plan of Reorganization became effective March 1, 2011.The Company's restructuring accomplishments included eliminationof 100 excess aircraft and associated leases and debt whichcontributed to the deleveraging of Mesa's balance sheet in theapproximate amount of $700 million in capitalized leases and$50 million in debt, and extending the term of the code-shareagreement with US Airways through September 2015.

MESA AIR: ALPA Pilots Begin Talks for Competitive Package---------------------------------------------------------The pilots of Mesa Air Group (MAG), who are represented by the AirLine Pilots Association, Int'l (ALPA), began negotiations withmanagement early March week for a competitive wage and benefitspackage that recognizes the pilots' sacrifices and contributionsto the airline over the years, provides incentives to retainqualified professionals, and makes Mesa the airline of choice forprospective pilots.

"We are at a critical juncture and must act quickly to make thenecessary changes that will ensure the long-term viability of ourairline," said First Officer Marcin Kolodziejczyk, chairmanof the Mesa Air Group unit at ALPA. "No longer is being 'thecheapest' a guarantee to winning new business. Mesa needs tofocus on rebuilding its brand as one that respects its pilots,values our contributions, and continues to provide our partnerswith a quality product. The pilots have done their part byconsistently delivering outstanding service to our partners andour passengers. We expect Mesa management to do their part bynegotiating a fair agreement."

Much has changed since the pilots were last at the bargainingtable with MAG management. In December 2008, the pilots narrowlyratified a short-term agreement with significant work-ruleimprovements that brought them in line with the industry in manykey areas. However, provisions such as increasing captain payrates and improving health care and other benefits were notaddressed in those negotiations due to the precarious financialsituation of the company, and they remain at levels that werenegotiated in their 2003 contract.

A year ago, MAG entered into Chapter 11 bankruptcy protection; thecompany recently emerged after restructuring the airline and itsfleet to meet the needs of its partners. The union was activelyinvolved in working to protect pilots' rights while at the sametime ensuring the company's survival. It was a painful processthat, among other things, resulted in hundreds of pilots beingfurloughed, displaced from their bases, and/or downgraded fromcaptain to first officer.

Meanwhile, the pool of qualified, professional pilots isshrinking, and industry analysts forecast a severe pilot shortagewithin the next 10 years due to pilot retirements and thedecreasing number of new pilots entering the profession.Competition for qualified pilots is already fierce, and manyregional and mainline carriers are currently hiring pilots on anongoing basis. Several of these carriers have also madesignificant improvements to their pilot agreements to assist themin retaining and attracting qualified professionals.

The MAG pilots intend to make similar improvements to theircontract. MAG is now a stronger, leaner airline with an aggressiveplan to maintain current business, secure new business, and rewardsenior management, aircraft lessors, suppliers, and othershareholders.

"Mesa's pilots must also be rewarded for their contributions tothis airline, namely for our efforts in maintaining operationalexcellence," said Mr. Kolodziejczyk. "As one of the largeststakeholders in Mesa, the pilots are an integral part to thecompany's current and future plans, and we deserve to sharein its success."

ALPA represents nearly 53,000 pilots at 38 airlines in the UnitedStates and Canada, including the nearly 1,400 pilots -- and 480who are on furlough -- at Mesa Air Group. Mesa Air Group includesMesa Airlines, Freedom Airlines, and go!, the company'sinterisland carrier in Hawaii. Pilots fly as United Express, USAirways Express, and go! For more information, visithttp://www.MesaPilots.com/

About Mesa Air

Mesa Air currently operates 76 aircraft with approximately 450daily system departures to 94 cities, 38 states, the District ofColumbia, and Mexico. Mesa operates as US Airways Express andUnited Express under contractual agreements with US Airways andUnited Airlines, respectively, and independently as go! Mokulele.This operation links Honolulu to the neighbor island airports ofHilo, Kahului, Kona and Lihue. The Company was founded by Larryand Janie Risley in New Mexico in 1982.

Mesa Air Group Inc. and its units filed their Chapter 11 petitionsJan. 5 in New York (Bankr. S.D.N.Y. Case No. 10-10018), listingassets of $976 million against debt totaling $869 million as ofSept. 30, 2009.

Judge Martin Glenn entered a final order confirming the ThirdAmended Joint Plan of Reorganization of Mesa Air Group, Inc., andits debtor affiliates on January 20, 2011. Under the plan, thereorganized company will issue new notes, common stock andwarrants to creditors. Unsecured creditors that are U.S. citizenswill receive a combination of new notes and new common stock,while unsecured creditors that are Non-U.S. citizens will receivea combination of new notes and new warrants. An agreement with USAirways paved way for the filing of the plan.

Mesa Air's Plan of Reorganization became effective March 1, 2011.The Company's restructuring accomplishments included eliminationof 100 excess aircraft and associated leases and debt whichcontributed to the deleveraging of Mesa's balance sheet in theapproximate amount of $700 million in capitalized leases and$50 million in debt, and extending the term of the code-shareagreement with US Airways through September 2015.

MICHAEL H. CLEMENT: Debtor Didn't Have to Assume or Reject Lease----------------------------------------------------------------WestLaw reports that the lease provisions of a prepetition rentaland development agreement (RDA) between a Chapter 11 debtor and apurchaser of its property did not give rise to a bona fide"lease," of a kind which the court could deem rejected based onthe debtor's failure to assume it prior to the expiration of thedeadline set forth in the Bankruptcy Code for the debtor to assumeany unexpired nonresidential lease. The RDA did not specify anyfixed term for this alleged lease, the debtor had owned propertyfor many years prior to executing the RDA, the RDA gave the debtorthe right to reacquire the property as long as the sales pricecould be refunded, and the debtor had a right to remain on theproperty, apparently forever, provided it could pay the purchasera fair rental rate. In re Michael H. Clement Corp., --- B.R. ----, 2011 WL 765550 (N.D. Cal.).

Michael H. Clement Corporation, based in Antioch, Calif., soughtchapter 11 protection (Bankr. N.D. Calif. Case No. 09-43502) onApr. 28, 2009. James A. Tiemstra, Esq., in Oakland, Calif.,represents the Debtor. At the fime of the filing, the Debtorestimated its assets at more than $1 million and its debts at lessthan $1 million.

MICROFIELD GROUP: Incurs $308,108 Net Loss in 2010--------------------------------------------------EnergyConnect Group, Inc., filed with the U.S. Securities andExchange Commission its annual report on Form 10-K, reporting anet loss of $308,108 on $31.64 million of revenue for the yearended Jan. 1, 2011, compared with a net loss of $3.22 million on$19.92 million of revenue during the prior year.

The Company's balance sheet at Jan. 1, 2011, showed $15.92 millionin total assets, $11.31 million in total liabilities and$4.61 million in total stockholders' equity.

RBSM LLP, in New York, noted that the Company is experiencingdifficulty in generating sufficient cash flow to meet itsobligations and sustain its operations, which raises substantialdoubt about its ability to continue as a going concern.

Headquartered in Portland, Oregon, Microfield Group, Inc. --http://www.microfield.com/-- specializes in the installation of electrical products and services, and in transactions betweenconsumers of electricity and the wholesale market.

"We also assigned our 'B' issue-level rating (the same as thecorporate credit rating on the company) to Mood Media's proposedfirst-lien secured debt (US$390 million term loan due 2018 andUS$25 million revolving credit facility due 2016). We assigneda recovery rating of '3' to the debt, indicating our expectationof meaningful (50%-70%) recovery for creditors in the event ofdefault. In addition, we assigned the proposed US$65 millionsecond-lien senior secured term debt due 2018 a 'CCC+' issue-levelrating (two notches below the corporate credit rating), and a '6'recovery rating, indicating our expectation of negligible (0%-10%)recovery for creditors in a default scenario," S&P said.

On March 24, 2011, Mood Media signed a definitive agreement toacquire privately held South-Carolina-based Muzak Holdings LLCfor US$345 million, including up to US$30 million in earn-outpayments. At closing, the acquisition will be financed withUS$305 million cash, US$5 million convertible unsecuredsubordinated debentures due 2015, and warrants to purchaseMood Media common shares. The company will finance the cashportion of the acquisition and repay its existing debt withUS$480 million in new bank debt. "We expect the acquisitionto close shortly upon the necessary approvals," S&P stated.

"The ratings on Mood Media reflect our assessment of thecompany's lack of business diversity, the noncritical natureof its products, execution risk regarding integrating the twobusinesses, high debt leverage upon completing the transaction,and the threat of substitution from competing alternatives,"said Standard & Poor's credit analyst Lori Harris. "Partiallyoffsetting these factors in our view are the company's leadingglobal position in the business-to-business subscription musicindustry, good pro forma EBITDA margin, and recurring revenuebase from multiyear contracts," Ms. Harris added.

The stable outlook on Mood Media reflects Standard & Poor'sexpectation that the company will maintain its solid marketposition as an in-store media provider and successfully integrateMuzak, while pursuing a financial policy, a growth strategy, andcredit metrics in line with the ratings. "We could lower theratings on Mood Media should the company experience significantdifficulties integrating Muzak, if its discretionary cash flow isnegative, if there is less than a 15% cushion within the financialcovenants, or if it does not achieve its organic revenue growthtargets. Alternatively, we could raise the ratings if Mood Mediaimproves its operating performance on a sustainable basis whilestrengthening its credit metrics, resulting in good covenantcushion," S&P added.

MOSDOS CHOFETZ: U.S. Trustee Wants Case Dismissed or Converted--------------------------------------------------------------Steve Lieberman at LOHUD.COM reports that the U.S. Trustee askedthe judge to dismiss Mosdos Chofetz Chaim's bankruptcy claim orconvert it to Chapter 7. According to the report, attorney GregZipes, representing Trustee Tracy Hope Davis, argued in papersthat the yeshiva and its rabbi, Aryeh Zaks, can't produce areorganization plan to fund the housing complex or get the yeshivaout of debts. The legal filing also said that Mosdos Chofetz "didnot file its initial monthly operating report and has failed toprovide information about its tenants."

MOUNTAIN PROVINCE: Incurs C$1.56 Million Net Loss in 2010---------------------------------------------------------Mountain Province Diamonds Inc. filed with the U.S. Securities andExchange Commission its annual report on Form 20-F, reporting anet loss for the period of C$1.56 million on C$122,950 of interestincome for the twelve months ended Dec. 31, 2010, compared with anet loss for the period of C$1.53 million on C$36,782 of interestincome for the twelve months ended March 31, 2009.

The Company's balance sheet at Dec. 31, 2010 showed C$117.30million in total assets, C$12.14 million in total liabilities andC$105.16 million in total shareholders' equity.

Headquartered in Toronto, Canada, Mountain Province Diamonds Inc.(TSX: MPV, NYSE AMEX: MDM) -- http://www.mountainprovince.com/-- is a Canadian resource company in the process of permitting anddeveloping a diamond deposit (the "Gahcho Kue Project" located inthe Northwest Territories of Canada. The Company's primary assetis its 49% interest in the Gahcho Kue Project.

* * *

In its Management's Discussion and Analysis of the Company'sinterim consolidated financial statements for the three monthsended June 30, 2010, the Company said its ability to continue as agoing concern and to realize the carrying value of its assets anddischarge its liabilities is dependent on the discovery ofeconomically recoverable mineral reserves, the ability of theCompany to obtain necessary financing to fund its operations, andthe future production or proceeds from developed properties.However, the Company adds that there is no certainty that theCompany will be able to obtain financing to fund its operations.As a result, the Company says, there is substantial doubt as toits ability to continue as a going concern.

NCO GROUP: Incurs $82.25 Million Net Loss in Dec. 31 Quarter------------------------------------------------------------NCO Group, Inc., reported a net loss of $82.25 million on$390.31 million of revenue for the three months ended Dec. 31,2010, compared with a net loss of $52.60 million on$423.41 million of revenue for the same period during the prioryear.

The Company also reported a net loss of $155.71 million on$1.60 billion of revenue for the year ended Dec. 31, 2010,compared with a net loss of $88.14 million on $1.58 billion ofrevenue during the prior year.

The Company's balance sheet at Dec. 31, 2010 showed $1.23 billionin total assets, $1.15 billion in total liabilities, and$86.92 million in total stockholders' equity.

About NCO Group Inc.

Based in Horsham, Pennsylvania, NCO is a global provider ofbusiness process outsourcing services, primarily focused onaccounts receivable management and customer relationshipmanagement. NCO has over 25,000 full and part-time employees whoprovide services through a global network of over 100 offices.The company is a portfolio company of One Equity Partners andreported revenues of about $1.2 billion for the twelve monthperiod ended Sept. 30, 2007.

As reported by the Troubled Company Reporter on Feb. 2, 2011,Moody's Investors Service downgraded NCO Group, Inc.'s CFR to Caa1from B3 and changed the outlook to negative. Simultaneously,Moody's has also downgraded each of NCO's debt instrument ratingsby one notch and lower the Speculative Grade Liquidity rating toSGL-4 from SGL3. The downgrade reflects Moody's concern thatgreater than expected revenue declines and continued earningspressure will extend beyond current levels due to deterioratingconsumer payment patterns and weaker volumes. In addition,Moody's expects financial flexibility will be further aggravatedby tightening headroom under its financial covenants and apotential breach of covenants which will limit the company'sability to draw upon its revolver. Also, the company faces animpending maturity on its $100 million senior secured revolvingcredit facility due November of 2011.

KMJ Corbin & Company, LLP, in Costa Mesa, Calif., expressedsubstantial doubt about Neonode Inc.'s ability to continue as agoing concern. The independent auditors noted that the Companyhas incurred significant operating losses and has used substantialamounts of working capital in its operations since inception, andat Dec. 31, 2010, has a working capital deficit of $9.9 millionand an accumulated deficit of $112.2 million.

The Company reported a net loss of $31.6 million on $440,000 ofrevenues for 2010, compared with a net loss of $14.9 million on norevenue for 2009.

At Dec. 31, 2010, the Company's balance sheet showed $1.2 millionin total assets, $11.1 million in total liabilities, and astockholders' deficit of $9.9 million.

NEW STREAM: Investors Object to McKinsey's Breakup Fee------------------------------------------------------Bill Rochelle, Bloomberg News' bankruptcy columnist, reports thatNew Stream Capital LLC will face opposition at an April 8 hearingfor approval of a $3.2 million break-up fee if an affiliate ofMcKinsey & Co. Inc. doesn't end up buying the portfolio of lifeinsurance policies. McKinsey is under contract for $127.5million.

According to the report, creditors of New Stream's U.S. and CaymanIslands funds, who say they invested more than $90 million, arguethat no breakup fee is required because McKinsey is already undercontract. Further, there will be no auction because New Streamintends to complete the sale as part of the prepackaged Chapter 11plan it hopes will win approval at an April 25 confirmationhearing.

The investors, Mr. Rochelle relates, explained to the judge howthere were only nine days of marketing before the contract withMcKinsey was signed in July. The months since then furtherdemonstrate the lack of need for a breakup fee, the investorsargue. The investors see no danger that McKinsey will walk awayfrom the purchases because it also offered financing for theChapter 11 case.

The Chapter 11 Plan

Objections to confirmation of the plan and to the adequacy of thedisclosure statement are due April 21, under the current schedule.The bankruptcy judge ruled last week that the investors have theright to object to the plan even though they are not directlycreditors of the New Stream companies in Chapter 11.

As reported in the March 16, 2011 edition of the Troubled CompanyReporter, before seeking bankruptcy protection, New Streamnegotiated a plan of reorganization with creditors. Theprepackaged plan was "overwhelmingly approved" by investors.

In order to meet the timeline in a Plan Support Agreement and thepost-petition financing, the hearing to consider confirmation musttake place not later than May 12, 2011.

Over the last eight years, NSSC has invested primarily by makingloans and equity investments. The aggregate indebtedness securedby the investment portfolio of NSSC is approximately $688,412,974.This debt is divided into two tranches. The secured claims of theNSSC Bermuda Lenders, in the approximate amount of $369,066,322,have first priority over the secured claims of the Cayman Fund andUS Fund, which are parri passu; the claims of the Cayman Fund andUS Fund aggregate $319,346,652.

NSI is indebted to certain segregated account classes of theBermuda Fund in the approximate amount of $81,573,376.

The Plan is predicated on a rapidly executed sale of NSI'sportfolio of life settlement contracts on the terms set forth inthe asset purchase agreement with MIO Partners, Inc., an affiliateof several investors in the US Fund and Cayman Funds. MIO hasdesignated Limited Life Assets Master Limited and Limited LifeAssets Holdings Limited as the purchasers.

The Plan provides for both the implementation of this asset saleand the allocation of the net proceeds among the Debtors' securedcreditors.

The Plan provided for the sale of the NSI Insurance Portfolioeither pursuant to a "Consensual Process" or a "Cramdown Process".However, since Class 3 has voted to accept the Plan, the sale willtake place pursuant to the Consensual Process and the Debtors donot presently intend to seek approval of the Insurance PortfolioSale pursuant to Section 363 of the Bankruptcy Code prior toseeking confirmation of the Plan.

The Plan treats creditors as follows:

-- NSI Bermuda Lenders under Class 1, owed $81,573,376, which have voted to accept the plan, will receive less than the full amount owed. Payment will be from the net proceeds of the Insurance Portfolio Sale.

-- NSSC Bermuda Lenders under Class 2, owed $396,066,322, which hold a first lien on the investment portfolio of NSSC, will (1) receive will receive a distribution from the remaining proceeds of the Insurance Portfolio Sale and (2) substantially all of the remainder of NSSC's assets, except for certain assets that are being released for the benefit of the Class 3 Claims. They voted in favor the Plan.

-- All holders of US-Cayman Claims, under Class 3, in the aggregate amount of $319,346,653, will each receive a percentage share of periodic distributions of the net proceeds from the liquidation of the common stock of North Star Financial Services Limited and specific assets and certain real estate and commercial loans (collectively identified as USC Wind Down Assets). In addition, holders of Class 3 Claims who voted to accept the Plan, and thereby grant the third-party releases provided for in section 12.5 of the Plan, will be entitled to receive a cash payment from the Global Settlement Fund upon the Plan's Effective Date. Under the Global Settlement, the Purchaser and Creditors in Classes 1 and 2, in exchange for the "yes" vote and the third-party releases, have agreed to provide funding for cash payments (expected to aggregate $15 million) to Class 3 claimants.

-- Holders of general unsecured claims against NSI and NSCI, under Classes 4(a) and (d), will be paid in full and are not impaired under the Plan. Each holder of allowed general unsecured claim against NSC, in Class 4(c), will share, on a pro rata basis, in a cash distribution of. Holders of general unsecured claims against NSSC, in Class 4(b), will not receive any distribution or retain any property on account of such Claims and pursuant to Bankruptcy Code Sec. 1126(g) this Class is deemed not to have accepted the Plan.

-- Holders of the Class 5(a) Interests in NSI that are currently held by NSSC will continue to be held by NSSC and the Class 5(d) Interests in NSCI that are currently held by the Cayman Funds will continue to be held by the Cayman Funds. Class 5(b) Interests in NSSC and Class 5(c) Interests in NSC will be extinguished and the Holders of Interests in Class 5(b) and Class 5(a) shall not receive or retain any property on account of such Interests.

Each holder of a claim in Classes 1, 2, 3 and 4(c) was entitled tovote either to accept or reject the Plan

New Stream is an inter-related group of companies thatcollectively comprise an investment fund, headquartered inRidgefield, Connecticut. Founded in 2002, New Stream focuses onproviding non-traded private debt to the insurance, real estateand commercial finance sectors.

The petitioning investors in the New Stream investment enterprisesay they are collectively owed over $90 million, representingroughly 28% of the approximately $320 million owed to all U.S. andCayman investors. The Petitioners are represented by (i) JosephH. Huston, Jr., Esq., Maria Aprile Sawczuk, Esq., Meghan A.Cashman, Esq., at Stevens & Lee, P.C., in Wilmington, Delaware,and Beth Stern Fleming, Esq., at Stevens & Lee, P.C., inPhiladelphia, Pennsylvania, and Nicholas F. Kajon, Esq., David M.Green, Esq., and Constantine Pourakis, Esq., at Stevens & Lee,P.C., in New York, (ii) Edward Toptani, Esq., at Toptani LawOffices, in New York, and (iii) John M Bradham, Esq., and DavidHartheimer, Esq., at Mazzeo Song & Bradham LLP, in New York.

NSSC, Inc., estimated its assets and debts at up to $50,000. NSCestimated its assets at $100,000 to $500,000 and debts at $50,000to $100,000. NSI estimated its assets at $100 million to$500 million and debts at $50 million to $100 million. NSSC, LP,estimated its assets and debts at $500 million to $1 billion.

NSI's insurance portfolio is being sold for $184.35 million aspart of the Chapter 11 plan. The aggregate indebtedness securedby the investment portfolio of NSSC is $688,412,974. NSI owes$81,573,376 to certain account classes under a Bermuda fund.

NMT MEDICAL: Delays Filing of 2010 Annual Report------------------------------------------------NMT Medical, Inc., informed the U.S. Securities and ExchangeCommission that it will be late in filing its annual report onForm 10-K for the period ended Dec. 31, 2010.

As the Company reported in its quarterly filing on Form 10-Q forthe quarter ended Sept. 30, 2010, the Company's existing cashresources were not sufficient to fund its business plans, ascurrently constituted, beyond the fourth quarter of 2010. Inresponse to this liquidity issue, the Company has streamlined itsoperations and significantly curtailed expenses while, at the sametime, seeking sources of capital through potential debt and equityfinancings or strategic transactions including the potential saleof the Company. The Company to date has not been able to raiseadditional debt or equity capital and has continued to explore itsstrategic options. Although the Company's outside auditorscommenced its audit with respect to the year ended Dec. 31, 2010,the completion of the audit was postponed by the Company. TheCompany does not anticipate its outside auditors to complete theaudit for the year ended Dec. 31, 2010 unless deemed prudent bythe Company to do so in light of the Company's strategic options.There can be no assurance that a strategic transaction will beconsummated or that the Company will be able to engage an auditorof its financial statements for the year ended Dec. 31, 2010.

The Company's balance sheet at Sept. 30, 2010, showed$7.78 million in total assets, $9.75 million in total liabilities,and a stockholders' deficit of $1.97 million.

The Company has incurred losses from operations during each of thepast two fiscal years and has experienced decreasing sales overthose time periods. The Company also incurred a loss fromoperations of $10.71 million for the nine months endedSept. 30, 2010. The Company has also had negative operatingcash flows over the comparable periods, have approximately$3.40 million in cash, cash equivalents and marketable securitiesas of Sept. 30, 2010, and has an accumulated deficit of$59.21 million as of Sept. 30, 2010.

NO FEAR RETAIL: Secures Interim Financing Approval--------------------------------------------------Bill Rochelle, the bankruptcy columnist for Bloomberg News,reports that No Fear Retail Stores Inc. overcame opposition fromthe creditors' committee and was given interim approval forfinancing it said is necessary to acquire adequate inventory. Thefinal hearing on the $3 million of DIP financing from Hilco BrandsLLC and Infinity FS Brands is set for April 18. The creditorsraised concerns about the bankruptcy loan, saying there was abetter offer from a rival lender. The Creditors Committee alsocalled the loan "extremely expensive on every possible level" andquestioned whether the loan would provide No Fear's operationswith "any meaningful liquidity."

No Fear filed for Chapter 11 bankruptcy protection (Bankr. S.D.Calif. Case No. 11-02896) on Feb. 24, 2011. David S. Kupetz,Esq., at Sulmeyer, Kupetz, A Professional Corp, serves as theDebtor's bankruptcy counsel. The Debtor estimated its assets at$10 million to $50 million and debts at $1 million to $10 millionas of the Chapter 11 filing.

As reported by the Troubled Company Reporter on March 25, 2011,Tiffany L. Carroll, the U.S. Trustee for Region 15, appointedthree creditors to serve on the Creditors Committee.

NORTHWESTERN STONE: Wants to Use McFarland Cash Collateral----------------------------------------------------------Northwestern Stone, LLC, seeks court authority to use additionalcash collateral as is required to operate its business.

The Debtor states in court papers that, in order to pay necessaryoperating expenses, it must use cash collateral in which McFarlandState Bank has interest.

The Debtor say it has previously provided these forms of adequateprotection to McFarland for its use of the cash collateral:

-- a replacement lien on all postpetition accounts receivable pursuant to Section 361(2) of the Bankruptcy Code;

-- maintaining adequate insurance coverage on all personal property and assets, and adequately insured against any potential loss;

-- providing McFarland with financial reports on a monthly basis;

-- only expending cash collateral pursuant to a budget;

-- payment of all postpetition taxes; and

-- maintaining in good condition and repairing all collateral in which McFarland has an interest.

A copy of the Cash Collateral Motion, together with the Budget, isavailable for free at LINK!!!!

NORTHWESTERN STONE: To Sell Springfield Quarry for $4.2-Mil.------------------------------------------------------------Northwestern Stone, LLC, seeks court authority to sell one of itsreal estate asset known as the Springfield Quarry to Lycon, Inc.,for $4.2 million.

Lycon offered to purchase the property and the offer to purchaseis contingent upon testing of the property consisting of drilling,at the buyer's expense, to determine the quality and quantity ofaggregate materials and environmental testing. The contingency isto be satisfied by the buyer. The contingency is also contingentupon confirmation that the property is properly zoned and theentry of a court order approving the sale.

The property will be sold free and clear of liens, claims andencumbrances. The Debtor believes it is receiving a reasonableand fair value for the quarry, the quarry having been appraised byEvergreen State Bank, a mortgage holder against the property at$1.1 to $1.6 million and by the Debtor at $3.8 million.

NOVELOS THERAPEUTICS: Delays Filing of 2010 Annual Report---------------------------------------------------------Novelos Therapeutics, Inc., informed the U.S. Securities andExchange Commission that the information necessary for the timelyfiling of the Company's Form 10-K for the year ended Dec. 31, 2010could not be compiled and processed within the prescribed timeperiod without undue effort and expense. The Company undertakesthe responsibility to file such annual report no later thanfifteen days after its original due date.

The Company's balance sheet at Sept. 30, 2010, showed$3.49 million in total assets, $6.36 million in total currentliabilities, $375,000 in commitments and contingencies,$13.77 million in redeemable preferred stock, and a stockholders'deficit of $17.01 million. Stockholders' deficit was$16.1 million at June 30, 2010.

As reported in the Troubled Company Reporter on April 8, 2010,Stowe & Degon LLC, in Westborough, Mass., expressed substantialdoubt about the Company's ability to continue as a going concern,following its 2009 results. The independent auditors noted of theCompany's continuing losses and stockholders' deficiency atDec. 31, 2009.

NOWAUTO GROUP: Taps Shelly as New Auditor After Semple Withdrawal-----------------------------------------------------------------The Board of Directors of NowAuto Group, Inc., was notified byregistered mail that Semple, Marchal, and Cooper was withdrawingas its independent auditor. The Board of Directors of the Companyand the Company's Audit Committee accepted the resignation ofSemple, Marchal, and Cooper. None of the reports of Semple,Marchal, and Cooper on the Company's financial statements foreither of the past two years or subsequent interim periodcontained an adverse opinion or disclaimer of opinion, or wasqualified or modified as to uncertainty, audit scope or accountingprinciples, except that the Company's audited financial statementscontained in its Form 10-K for the fiscal year ended June 30, 2010a going concern qualification in the registrant's auditedfinancial statements.

During the Company's two fiscal years and the subsequent interimperiod thru March 14, 2011, there were no disagreements withSemple, Marchal, and Cooper whether or not resolved, on any matterof accounting principles or practices, financial statementdisclosure, or auditing scope or procedure, which, if not resolvedto Semple, Marchal, and Cooper's satisfaction, would have causedit to make reference to the subject matter of the disagreement inconnection with its report on the Company's financial statements.

On April 1, 2011, the Company engaged Shelly International CPA asits independent accountant. During the two most recent fiscalyears and the interim periods preceding the engagement, theCompany has not consulted Shelly International CPA regarding anyof the matters set forth in Item 304(a)(2)(i) or (ii) ofRegulation S-B.

About NowAuto Group, Inc.

Phoenix, Ariz.-based NowAuto Group, Inc. (NAUG:PK and NWAU.PK)operates two buy-here-pay-here used vehicle dealerships inArizona. The Company manages all of its installment financecontracts and purchases installment finance contracts from aselect number of other independent used vehicle dealerships.

The Company's balance sheet at Dec. 31, 2010, showed $4.7 millionin total assets, $14.2 million in total liabilities, and astockholders' deficit of $9.5 million.

As reported in the Troubled Company Reporter on Oct. 12, 2010,Semple, Marchal & Cooper, LLP, in Phoenix, Ariz., expressedsubstantial doubt about NowAuto Group's ability to continue as agoing concern, following the Company's results for the fiscal yearended June 30, 2010. The independent auditors noted that theCompany has suffered recurring losses from operations and has anet capital deficiency.

OPTIMUMBANK HOLDINGS: Delays Filing of 2010 Annual Report---------------------------------------------------------OptimumBank Holdings, Inc., informed the U.S. Securities andExchange Commission that finalization of its audited financialstatements for the fiscal year ended Dec. 31, 2010 has beendelayed as a result of the preparation of new disclosuresrequiring significantly more information about credit quality inthe Company's loan portfolio required by new FASB AccountingPronouncement ASU No. 2010-20. In addition, the Company'scontinued operating losses and decline in regulatory capitalrequire the preparation of expanded disclosures regardingregulatory matters. The Company anticipates filing its AnnualReport on Form 10-K as soon after March 31, 2011 as is feasibleand within the 15-day period from that date as provided by Rule12b-25 promulgated under the Securities Exchange Act of 1934.

The Company's balance sheet at Sept. 30, 2010, showed$202.74 million in total assets, $198.22 million in totalliabilities, and stockholders' equity of $4.52 million.

OptimumBank is currently operating under a Consent Order issued bythe Federal Deposit Insurance Corporation ("FDIC") and the Stateof Florida Office of Financial ("OFR"), effective as of April 16,2010. As of Sept. 30, 2010, the Bank was considered"undercapitalized" under these FDIC requirements. As an"undercapitalized" institution, the Bank is subject torestrictions on capital distributions, payment of management fees,asset growth and the acceptance, renewal or rollover of brokeredand high-rate deposits. In addition, the Bank must obtain priorapproval of the FDIC prior to acquiring any interest in anycompany or insured depository institution, establishing oracquiring any additional branch office, or engaging in any newline of business.

"The Bank [OptimumBank] has experienced recent and continuingincreases in nonperforming assets, declining net interest margin,increases in provisions for loan losses, continuing high levels ofnoninterest expenses related to the credit problems, and erodingregulatory capital which raise substantial doubt about the Bank'sability to continue as a going concern," the Company said in itsForm 10-Q for the quarter ended Sept. 30, 2010.

OUTSOURCE HOLDINGS: Section 341(a) Meeting Scheduled for May 6--------------------------------------------------------------The U.S. Trustee for Region 6 will convene a meeting of OutsourceHoldings, Inc.'s creditors on May 6, 2011, at 11:00 a.m. Themeeting will be held at Federal Building, 819 Taylor Street, FTW341 Room 7A24, Fort Worth, Texas.

This is the first meeting of creditors required under Section341(a) of the U.S. Bankruptcy Code in all bankruptcy cases.All creditors are invited, but not required, to attend. ThisMeeting of Creditors offers the one opportunity in a bankruptcyproceeding for creditors to question a responsible office of theDebtor under oath about the company's financial affairs andoperations that would be of interest to the general body ofcreditors.

The Debtor's only significant asset is its ownership of all of theoutstanding capital stock of Jefferson Bank, which is a state bankwith five branch locations in the Dallas/Fort Worth metroplex.

MidSouth Bancorp said its subsidiary, MidSouth Bank, N.A., hasentered into an agreement with Jefferson Bank and First Bank &Trust Company to acquire five Jefferson Bank branches located inthe Dallas-Fort Worth, Texas area. As part of the branchacquisition, MidSouth expects to acquire approximately $70 millionin loans and to assume over $150 million in deposits. MidSouthanticipates that the acquisition will be completed before July 31,2011.

PHOENIX FOOTWEAR: Delays Filing of 2010 Annual Report-----------------------------------------------------Phoenix Footwear Group, Inc., notified the U.S. Securities andExchange Commission that it will be unable to file its AnnualReport on Form 10-K for the fiscal year ended Jan. 1, 2011, by thedeadline without unreasonable effort or expense. The Company saidit was unable to compile all required financial information andneeds additional time to prepare a complete filing. The Companypresently intends to file its Form 10-K within the fifteen dayextension period, following the prescribed due date.

About Phoenix Footwear

Based in Carlsbad, California, Phoenix Footwear Group, Inc. (NYSEAmex: PXG) specializes in quality comfort women's and men'sfootwear with a design focus on fitting features. PhoenixFootwear designs, develops, markets and sells footwear in a widerange of sizes and widths under the brands Trotters(R),SoftWalk(R), and H.S. Trask(R). The brands are primarily soldthrough department stores, leading specialty and independentretail stores, mail order catalogues and internet retailers andare carried by approximately 650 customers in more than 900 retaillocations throughout the U.S. Phoenix Footwear has been engagedin the manufacture or importation and sale of quality footwearsince 1882.

The Company's balance sheet at Oct. 2, 2010, showed $10,837,000in total assets, $6,760,000 in total liabilities, and $4,077,000in stockholders' equity.

As reported by the Troubled Company Reporter on Nov. 29, 2010, theCompany said in its quarterly report on Form 10-Q for the periodended Oct. 2, 2010, that the severe global recession has beenchallenging during the past two years and has dramaticallyaffected the Company's business as it is dependent on consumerdemand for its products. During this time, the Company has facedsignificant working capital constraints as the result of thedecline in sales, expenditures, and obligations associated withits restructuring and diminished borrowing capacity. Thesefactors, together with net losses and negative cash flows duringthe past three fiscal years, raise substantial doubt about theCompany's ability to continue as a going concern.

POSTMEDIA NETWORK: S&P Assigns 'BB' Rating on Sr. Secured Loan--------------------------------------------------------------Standard & Poor's Ratings Services said it assigned its 'BB'issue-level rating to Postmedia Network Inc.'s US$365 millionfirst-lien senior secured term loan C due 2016. Standard &Poor's also assigned its '1' recovery rating to the term loan,indicating an expectation of very high (90%-100%) recovery in theevent of a default. The company will use the proceeds from thenew term loan to repay the company's previous first-lien seniorsecured debt.

"At the same time, we withdrew the 'BB' issue-level ratings and'1' recovery ratings on the company's US$300 million first-liensenior secured term loan due 2016 and C$110 million first-liensenior secured term loan due 2015," according to S&P.

Postmedia completed an amendment to its credit agreement, whichincluded the issuance of a new US$365 million first-lien seniorsecured term loan C due 2016, the proceeds of which were used torepay the company's previous first-lien term debt (US$300 millionterm loan due 2016 and C$110 million term loan due 2015). Inaddition, the amendment included lower pricing on the company'sfirst-lien debt and looser financial covenants.

"The ratings on Postmedia reflect our assessment of the company'sweak business risk profile as reflected in its participation inthe challenging newspaper publishing industry, which ischaracterized by declining advertising and circulation revenues,electronic substitution, and pricing pressures," said Standard &Poor's credit analyst Lori Harris. "We believe the newspaperindustry will face long-term secular challenges related to marketshare erosion toward online and other forms of advertising.Partially offsetting these factors, in our opinion, are thecompany's good market position in Canadian newspaper publishing,solid credit protection measures for the ratings, and improvedprofitability because of cost-cutting efforts," Ms. Harris added.

The negative outlook reflects Standard & Poor's ongoing concernsabout the challenges Postmedia faces given weak revenues anddifficult industry fundamentals. Downward pressure on the ratingscould result from deterioration in the company's operations,resulting in adjusted debt to EBITDA above 4x at fiscal 2011 or aless than 10% cushion within the financial covenants. "We couldrevise the outlook to stable if the company demonstratessustainable improvement in its operating performance, whilestrengthening its credit measures, including adjusted debt toEBITDA of about 3.5x, which should result in adequate covenantcushion," S&P added.

PRECISION OPTICS: Maturity of 10% Sr. Notes Extended to April 15----------------------------------------------------------------Precision Optics Corporation, Inc., entered into a PurchaseAgreement, as amended on Dec. 11, 2008, with certain accreditedinvestors pursuant to which the Company sold an aggregate of$600,000 of 10% Senior Secured Convertible Notes. The Investorsamended the Notes on several dates to extend the "Stated MaturityDate" of the Notes. On March 31, 2011 and April 1, 2011, theInvestors further amended the Notes to extend the "Stated MaturityDate" to April 15, 2011. The Company believes the Investors willcontinue to work with the Company to reach a positive outcome onthe Note repayment.

The Company's balance sheet at Dec. 31, 2010 showed $1.33 millionin total assets, $1.98 million in total current liabilities and a$646,334 stockholders' deficit.

Going Concern Doubt

Stowe & Degon LLC, in Westborough, Mass., expressed substantialdoubt about the Company's ability to continue as a going concern.The independent auditors noted that the Company has sufferedrecurring net losses and negative cash flows from operations.

The Company has sustained recurring net losses for several years.As of June 30, 2010, the Company has an accumulated deficit of$38.4 million. As of June 30, 2010, cash and cash equivalentswere $416,040, accounts receivable were $505,200, and currentliabilities were $2.1 million. The Company anticipates thatdeferred officers' salaries and director consulting expensesaccrued at June 30, 2010, will be settled by issuing restrictedcommon stock rather than by cash payments. These deferred amountsincluded in current liabilities at June 30, 2010, total roughly$574,000.

South Easton, Mass.-based Pressure BioSciences, Inc.-- http://www.pressurebiosciences.com/-- is focused on the development and sale of instrumentation and consumables based on anovel, enabling technology called Pressure Cycling Technology(PCT).

Steve Green at the Las Vegas Sun notes that R & S St. Rosedisclosed in court filings that it owes $12 million to its sistercompany, R & S St. Rose Lenders. It owes another $36 million tothe failed Colonial Bank, though it's unclear if that claim is nowowned by the Federal Deposit Insurance Corp. or to Branch Banking& Trust Corp., which took over some of the Colonial Bank loans.

The Las Vegas Sun recounts that in 2005, R & S St. Rose purchasedthe property at issue for $45 million with plans to re-sell itwithin one year to Centex Homes for $54 million, court recordsshow. In 2006, Centex chose not to exercise its option to buy theproperty and forfeited its deposit. The funding for the purchasecame from a $12 million loan from R & S St. Rose Lenders, a$29 million loan from Colonial Bank and $8.1 million in depositsfrom Centex, records show. R & S St. Rose Lenders, in its filing,listed the $12 million note from R & S St. Rose as an assetagainst liabilities of $19.7 million.

According to the Las Vegas Sun, in 2008, Las Vegas attorneysRobert Murdock and Eckley Keach sued both R & S St. Rosecompanies, Rad, Nourafchan and others charging they had loaned acombined $600,000 to the project after they and other investorswere solicited to invest in it -- but that the R & S St. Roseentities had falsely represented exactly which entity owned theproperty and provided other incorrect information, says Mr. Green.The attorneys also charged in their suit that theR & S entities had diluted their position in the project byencumbering it with additional debt without their authorization-- and failed to repay the attorney's notes when they came due in2006. Those allegations were denied, but Keach eventually won a$1 million judgment in the lawsuit and Murdock was awarded$166,000. R & S St. Rose is appealing.

The Las Vegas Sun relates that another lawsuit was filed in 2009by investor George Nyman, who complained that in 2005 he invested$300,000 with R & S St. Rose Lenders in the form of a promissorynote secured by a deed of trust -- but that the defendants laterfailed to make required interest payments and failed to repay hisprincipal. That lawsuit complained R & S St. Rose Lenders LLC"improperly and against its self interest and the interest of itslenders failed to foreclose the deed of trust securing itsinterest in the property."

R & S St. Rose Lenders scheduled $12,041,574 in assets and$19,688,291 in liabilities as of the Chapter 11 filing. R & S St.Rose, LLC, scheduled $16,821,500 in assets and $48,293,866 inliabilities as of the Petition Date.

The Chapter 11 case summary for R & S St. Rose is in the April 6,2011 edition of the Troubled Company Reporter.

RADIANT OIL: Delays Filing of 2010 Annual Report------------------------------------------------Radiant Oil & Gas, Inc., said that is unable to file its AnnulReport on Form 10-K for the period ended Dec. 31, 2010 within theprescribed time period due to its difficulty in completing andobtaining required financial and other information withoutunreasonable effort and expense.

About Radiant Oil & Gas

Houston, Tex.-based Radiant Oil & Gas, Inc., seeks to develop,produce, and acquire oil and natural gas properties along the GulfCoasts of Texas and Louisiana and on the Outer Continental Shelfof the United States.

The Company's balance sheet at Sept. 30, 2010, showed$3.27 million in total assets, $6.85 million in total liabilities,and a stockholders' deficit of $3.58 million.

"The Company had a working capital deficit of $5.99 million and anaccumulated deficit of $4.70 million as of Sept. 30, 2010.These factors which raise substantial doubt about our ability tocontinue as a going concern," the Company said in its Form 10-Qfor the third quarter of 2010.

RAINES LENDERS: Posts $140,042 Net Loss in 2010-----------------------------------------------Raines Lenders, L.P., filed on March 31, 2011, its annual reporton Form 10-K for the fiscal year ended Dec. 31, 2010. Thefinancial statements submitted by the partnership are unaudited.

The Company reported a net loss of $140,042 on interest earned of$4,586 for 2010, compared with a net loss of $189,169 on interestearned of $1,696 for 2009.

At Dec. 31, 2010, the Partnership's balance sheet showed$2.0 million in total assets, $1.1 million in total liabilities,and partners' equity of $910,280.

"The Partnership has suffered recurring losses from operations andhas a net working capital deficiency at Dec. 31, 2010, that raisessubstantial doubt about its ability to continue as a goingconcern," the Partnership said in the filing. "If funds are notsufficient in 2011, the General Partner may defer the collectionof fees for certain affiliated expenses, reduce administrative andall other costs, including suspension of the outside audit reviewand may provide advances until cash becomes available."

Nashville, Tenn.-based Raines Lenders, L.P., is a Delaware limitedpartnership. The General Partner of the Partnership is 222Raines, Ltd., a Tennessee limited partnership, whose generalpartner is 222 Partners, Inc.

The Partnership's primary business is to develop and sell certainundeveloped real estate in Memphis, Tennessee.

At Dec. 31, 2010, the Partnership was holding approximately 175acres of partially developed land on Raines Road in Memphis,Tennessee, adjacent to the Memphis International Airport. TheProperty is zoned for a wide variety of light industrial,warehouse, office-warehouse and distribution uses.

RASER TECHNOLOGIES: Delays Form 10-K; Sees $100-Mil. Net Loss-------------------------------------------------------------Raser Technologies, Inc., filed with the U.S. Securities andExchange Commission a Form 12b-25 with respect to its AnnualReport on Form 10-K for the period ended Dec. 31, 2010. TheCompany said it needs additional time to complete the accountingwork required for the financial reports to be included and theMD&A discussion based upon such financial reports, and to includeall the executive compensation information that otherwise would beincluded in its proxy statement.

The Company anticipates that it will report a net loss of between$99.0 million and $107.3 million for the year ended Dec. 31, 2010as compared to a net loss of $20.2 million for the year endedDec. 31, 2009.

The increase in the Company's net loss for the year ended Dec. 31,2010 was due primarily to a significant increase in expenses as aresult of an impairment of the Company's Thermo No. 1 plant thatoccurred in the second quarter of 2010 totaling $52.2 million.During the third quarter of 2010 the Company commenced thesolicitation process of the sale of its Thermo No. 1 plant, or aninterest therein. Based on the solicitation process and furtherevaluation of the performance of the plant, the Company reducedthe value of the Thermo No. 1 plant and expensed an additional$15.7 million of capitalized costs during the fourth quarter of2010. The Company estimates that the fair value of the Thermo No.1 plant, less selling costs at Dec. 31, 2010, total $14.4 million.The Company also incurred an impairment charge of other long-livedassets during the fourth quarter of 2010 totaling $2.1 million.The Company incurred additional interest expense during the yearended Dec. 31, 2010. This increase is primarily due to theCompany's required buy-down and make-whole payment that resultedfrom being unable to operate the Thermo No. 1 plant at designedcapacity by July 9, 2010. As a result, on July 9, 2010, theCompany paid $27.0 million to the debt holder of the 7.00% seniorsecured note (non-recourse) to reduce the outstanding principaland interest balance of the note by approximately $20.0 millionand to settle the agreed upon make-whole amount of approximately$7.0 million. Accordingly, the unamortized deferred finance feesassociated with the issuance of the 7.00% senior secured note werealso expensed proportionately to the decrease in principal balanceof the related note totaling $6.1 million. Gain on derivativedecreased $5.9 million for the year ended Dec. 30, 2010, comparedto 2009 due primarily to the fair values of the Company'sderivative instruments declined at a lower rate than in 2009. TheCompany also incurred a loss on the partial extinguishment of10.00% unsecured line of credit due to issuing warrants withshares of the Company's common stock to settle the debt totaling$0.9 million.

The Company's revenues increased $2.0 million to $4.2 million forthe year ended Dec. 31, 2010 as compared to $2.2 million for theyear ended Dec. 31, 2009. This increase in revenue is primarilydue to operating the Thermo No. 1 plant for the entire calendaryear in 2010 as compared to nine months in the prior year andincreasing production to 6 MW in 2010. Total operating expensesfor the year ended Dec. 31, 2010 were $23.6 million compared to$27.6 million for the year ended Dec. 31, 2009. The Company'soperating activities were significantly lower during 2009resulting primarily from decreased staffing levels and decreaseduse of outside consultants to focus efforts reducing the Company'soverall operating expenses. On Nov. 19, 2010, the Company soldcertain of its Transportation and Industrial business segmentassets to VIA Motors for $2.5 million in cash, the assumption ofcertain liabilities totaling $1.0 million and the issuance to theCompany of approximately 39% of the shares of VIA Motors commonstock which was diluted to approximately 31% on Dec. 31, 2010.The Company has been unable to complete its fair value estimatesof the transaction and unable to estimate the gain on the sale ofthe Company's Transportation and Industrial business segment orthe Company's equity method loss relating to the Company's VIAMotors Investment at this time.

Management anticipates that the Auditor's report on the Company'sfinancial statements will again express doubt about the Company'sability to continue as a going concern. The audit report filedwith the Company's Form 10-K for the fiscal year ended Dec. 31,2009 also expressed doubt about the Company's ability to continueas a going concern.

About Raser Technologies

Provo, Utah-based Raser Technologies, Inc. (NYSE: RZ)-- http://www.rasertech.com/-- is an environmental energy technology company focused on geothermal power development andtechnology licensing. Raser's Power Systems segment developsclean, renewable geothermal electric power plants with oneoperating plant in southern Utah and eight active and early stageprojects in four western United States: Utah, New Mexico, Nevadaand Oregon, as well as a concession for 100,000 acres inIndonesia. Raser's Transportation and Industrial segment focuseson extended-range plug-in-hybrid vehicle solutions and usingRaser's award-winning Symetron(TM) technology to improve thetorque density and efficiency of the electric motors and drivesystems used in electric and hybrid-electric vehicle powertrainsand industrial applications.

* * *

Hein & Associates LLP, in Denver, Colo., expressed substantialdoubt about the Company's ability to continue as a going concern,following its 2009 results. The independent auditors noted thatthe Company has suffered recurring losses, has used significantcash for operating activities since inception, has significantpurchase commitments in 2010 and has a lack of sufficient workingcapital.

Raser Technologies did not make the $2.2 million semi-annualinterest payment due October 1, 2010, on its 8% Convertible SeniorNotes Due 2013.

The Company satisfied the semi-annual interest payment obligationafter receiving $1.10 million from the Thermo No. 1 plant escrowfunds and $1.15 million from a loan with Evergreen Clean Energy,LLC, late in October 2010.

The Company's balance sheet at Sept. 30, 2010, showed$57.68 million in total assets, $107.26 million in totalliabilities, and a stockholders' deficit of $49.58 million.

RASER TECHNOLOGIES: In Talks to Avoid Default Under 8% Sr. Notes----------------------------------------------------------------Raser Technologies, Inc., sold 8% Convertible Senior Notes Due2013 having an aggregate principal amount of $55 million onMarch 26, 2008. The terms of the Notes required a semi-annualinterest payment of $2.2 million on April 1, 2011, although theCompany has until May 1st to make the interest payment beforethere is Event of Default under the indenture for the Notes thatwould permit the holders of the Notes to accelerate the maturitydate or take any action to enforce the Notes.

The Company has not made the April 1st interest payment. At thistime, the Company cannot provide any assurance that the paymentwill be made on or before May 1st or at all.

The Company has initiated discussions with the holders of morethan a majority of the outstanding principal amount of the Notesto discuss proposals that would modify the repayment terms of theNotes. The discussions with the holders of the Notes are part ofthe Company's comprehensive and ongoing efforts to modify theterms of substantially all of the Company's outstandingindebtedness to reduce the overall amount of Company debt andachieve more favorable repayment terms for the remaining debt.There can be no assurance that the Company will reach a definitiveagreement with the holders of the Notes regarding a forbearance ormodification that would avoid an Event of Default under theindenture for the Notes, the terms upon which any such agreementwill be reached, or that requisite consents will be obtained andrequisite conditions will be satisfied.

About Raser Technologies

Provo, Utah-based Raser Technologies, Inc. (NYSE: RZ)-- http://www.rasertech.com/-- is an environmental energy technology company focused on geothermal power development andtechnology licensing. Raser's Power Systems segment developsclean, renewable geothermal electric power plants with oneoperating plant in southern Utah and eight active and early stageprojects in four western United States: Utah, New Mexico, Nevadaand Oregon, as well as a concession for 100,000 acres inIndonesia. Raser's Transportation and Industrial segment focuseson extended-range plug-in-hybrid vehicle solutions and usingRaser's award-winning Symetron(TM) technology to improve thetorque density and efficiency of the electric motors and drivesystems used in electric and hybrid-electric vehicle powertrainsand industrial applications.

* * *

Hein & Associates LLP, in Denver, Colo., expressed substantialdoubt about the Company's ability to continue as a going concern,following its 2009 results. The independent auditors noted thatthe Company has suffered recurring losses, has used significantcash for operating activities since inception, has significantpurchase commitments in 2010 and has a lack of sufficient workingcapital.

Raser Technologies did not make the $2.2 million semi-annualinterest payment due Oct. 1, 2010, on its 8% Convertible SeniorNotes Due 2013.

The Company satisfied the semi-annual interest payment obligationafter receiving $1.10 million from the Thermo No. 1 plant escrowfunds and $1.15 million from a loan with Evergreen Clean Energy,LLC, late in October 2010.

The Company's balance sheet at Sept. 30, 2010, showed$57.68 million in total assets, $107.26 million in totalliabilities, and a stockholders' deficit of $49.58 million.

Reznick Group, P.C., in Vienna, Va., expressed substantial doubtabout RegeneRx's ability to continue as a going concern. Theindependent auditors noted that the Company has experiencednegative cash flows from operations since inception and isdependent upon future financing in order to meet its plannedoperating activities.

The Company reported a net loss of $5.0 million on $849,539 ofsponsored research revenue for 2010, compared with a net loss of$6.5 million on no revenue for 2009.

Rockville, Md.-based RegeneRx Biopharmaceuticals, Inc.(OTC BB: RGRX) -- http://www.regenerx.com/-- is a biopharmaceutical company focused on the development of a noveltherapeutic peptide, Thymosin beta 4, or TB4, for tissue and organprotection, repair, and regeneration.

The downgrade of the IFS rating is driven primarily by RMIC'scomparatively weak capital levels, continued operating losses anduncertain business prospects. It resolves Fitch's placement ofthe Rating on Negative Watch, which occurred on March 7, 2011.RMIC's weak capital ratios are reflective of Fitch's view that theinsurer's delinquent risk-in-force is currently greater than itstotal capital resources (comprised of policyholders' surplus,contingency reserve and loss & loss adjustment expense reserve).At year-end 2010, RMIC's total capital resources represented just78% of its delinquent risk-in-force, the lowest ratio among thesix active U.S. mortgage insurers. At 28.4:1, the company'sconsolidated risk-to-capital ratio is the highest among its peersand is above the 25.0:1 level mandated by some state regulators.

In light of breaching its regulatory risk-to-capital limits, RMIChas been able to negotiate waivers with its primary regulator inNorth Carolina and a number of other states that have a risk-to-capital requirements, allowing the company to write new businessin those jurisdictions. Additionally, the company has alsoreceived permission from Fannie Mae and Freddie Mac (together theGSEs) to write business out of Republic Mortgage Insurance Companyof North Carolina, which had a risk-to-capital ratio of 23.3:1 asof Dec. 31, 2010.

While Fitch looks at RMIC's rating on a stand-alone basis,additional capital contributions from Old Republic InternationalCorp. (ORI), RMIC's parent, would be viewed positively. However,management has not indicated a willingness to provide the level ofsupport necessary to achieve higher ratings, in Fitch's opinion.ORI has not downstreamed any capital to RMIC since the first halfof 2009, even as capital levels have continued to deteriorate.Fitch has recently downgraded ORI's Issuer Default Rating (IDR) to'BBB', partially due to continued losses at RMIC.

Although RMIC's delinquencies have started to show positivetrends, Fitch expects the company to experience operating lossesfor the foreseeable future. The operating environment in themortgage insurance industry remains highly uncertain, particularlyin light of recent regulatory proposals dealing with housingreform.

Loans with mortgage insurance were not included in the definitionof a Qualified Residential Mortgage (QRM) in the securitizationrisk retention rule proposed by regulators last week. Theproposed rule is open for comment for the next 60 days and isstill subject to change. This exclusion likely would not have animmediate effect on RMIC and its peers because loans guaranteed bythe GSEs will be exempt from the risk retention rule while theyare in conservatorship. However, if the GSEs are wound down overthe longer term, the exclusion of mortgage insurance from the QRMdefinition could significantly impact new business volumes, inFitch's view. Fitch further believes that the significant levelsof rescissions and claim denials over the last several years havehad a negative impact on the relationship between the mortgageinsurers and the mortgage lenders they serve.

As reflected in the Negative Outlook, the operating environmentin the mortgage insurance industry remains highly uncertain.Most players are expected to continue reporting losses for theforeseeable future and the implications from broader housingreform are not yet clear. While RMIC continues to write newbusiness, its market share declined in 2010, placing it lastamong its peers.

Factors that could have negative rating implications forRMIC's rating include: lack of additional capital contributionsin light of the company's shrinking capital resources, furtherdeterioration in the insured portfolio, or inability to obtainapproval from the GSEs and/or state regulators to continue writingnew business. An increased level of support from ORI may havepositive implications for the rating or Outlook; however, Fitchdoes not believe this is a likely scenario at the present time.

RMIC, domiciled in North Carolina, is the lead U.S. mortgageinsurance operating company of ORI. As of Dec. 31, 2010, RMIC wasthe fifth-largest mortgage insurer in the U.S. with $18 billion ofrisk-in-force.

Fitch has removed from Rating Watch Negative and downgraded thisrating:

Republic Mortgage Insurance Company

-- IFS to 'BB' from 'BBB-'.

The Rating Outlook is Negative.

RHI ENTERTAINMENT: Consummates Prepackaged Chapter 11 Plan----------------------------------------------------------Bill Rochelle, the bankruptcy columnist for Bloomberg News,reports that RHI Entertainment Inc. implemented on April 1 theChapter 11 reorganization plan that the bankruptcy court confirmedtwo days earlier. The plan had been accepted before the Chapter11 filing in December by all of the second-lien debt and 94% ofthe first-lien obligations. It reduces debt by about $300million.

A copy of the Plan, as modified March 15, 2011, is available forfree at:

Irvine, Calif.-based Rubicon Financial Incorporated (OTC BB: RBCF)is a financial services holding company. The Company operatesprimarily through Newport Coast Securities, Inc., a fully-disclosed broker-dealer, which does business as Newport CoastAsset Management as a registered investment advisor and dualregistrant with the Securities and Exchange Commission and NewportCoast Securities insurance general agency.

RYLAND GROUP: Awaits Final Approval of Derivative Suit Settlement-----------------------------------------------------------------The Superior Court for the State of California for the County ofLos Angeles entered an order providing for preliminary approval ofa settlement in connection with the derivative complaint, City ofMiami Police Relief and Pension Fund v. R. Chad Dreier, et al. Inits order, the Court also approved the form of notice relating tothe Settlement, and set a hearing date of June 6, 2011 at 11:00a.m. to consider whether to grant final approval of theSettlement.

The Complaint named as defendants certain current and formerdirectors and officers of The Ryland Group, Inc. The Complaintalleged that these individual defendants breached their fiduciaryduties to the Company from 2003 to 2008 by not adequatelysupervising Ryland business practices relating to its mortgagebusiness and by not ensuring that proper internal controls wereinstituted and followed. The individual defendants have deniedthe claims made in the Complaint and make no admission of anywrongdoing in connection with the Settlement. If approved by theCourt at the hearing scheduled to take place on June 6, 2011, theSettlement will result in the dismissal with prejudice of theComplaint, in exchange for the implementation of certain corporategovernance measures as disclosed in the Notice of Pendency andProposed Settlement, payment of $1 million to the Company by theinsurance carriers to the Company and the individual defendantsunder the Company's directors and officers insurance, and paymentof attorneys' fees awarded to the plaintiffs' attorneys, if any.

About Ryland Group

Headquartered in Calabasas, California, The Ryland Group, Inc.(NYSE: RYL) -- http://www.ryland.com/-- is one of the nation's largest homebuilders and a leading mortgage-finance company.Since its founding in 1967, Ryland has built more than 285,000homes and financed more than 240,000 mortgages. The Companycurrently operates in 15 states and 19 homebuilding divisionsacross the country and is listed on the New York Stock Exchangeunder the symbol "RYL."

The Company's balance sheet at Dec. 31, 2010 showed $1.65 billionin total assets, $1.09 billion in total liabilities, and$561.66 million in total equity.

* * *

As reported by the Troubled Company Reporter on June 21, 2010,Fitch Ratings has affirmed Ryland Group, Inc.'s ratings -- IssuerDefault Rating at 'BB'; and Senior unsecured debt at 'BB'. TheRating Outlook has been revised to Stable from Negative.

SAINT VINCENTS: Court OKs Sale of Manhattan Campus for $260-Mil.----------------------------------------------------------------Saint Vincent's Catholic Medical Centers of New York announced onApril 7, 2011, that the U.S. Bankruptcy Court for the SouthernDistrict of New York has approved the $260 million sale of SaintVincent's Manhattan campus, including the historic O'TooleBuilding, to the Rudin family and the North Shore-LIJ HealthSystem. Structured with the leadership of Grant Thornton LLP'sCorporate Advisory & Restructuring Services practice, the dealestablishes a stand-alone 24-hour emergency center and ambulatorysurgery facility in New York's Greenwich Village area.

For the storied healthcare system, which rose to prominence in the1980s for its AIDS and HIV treatment programs as well as the firstresponse hospital for the 9/11 tragedy, under the loyalstewardship of the Sisters of Charity, the ground-breakingtransaction provides the potential for a full range of criticalcare and medical treatment services to New York residents who liveand work in the surrounding areas of Manhattan's westside.Negotiated amid one of the largest and most complex bankruptcyproceedings in the healthcare industry, the resulting dealrepresents the culmination of a successful process led by GrantThornton's National Managing Principal Mark E. Toney, who is theChief Restructuring Officer (CRO) of Saint Vincent's.

"This transaction is a positive outcome for the residents ofManhattan's Greenwich Village neighborhood and surroundingcommunities. The Saint Vincent's team including our counsel,Kramer Levin Naftalis & Frankel LLP (Kramer Levin), have workedvery closely with the Rudin family and the North Shore-LIJ HealthSystem to create a long-term healthcare solution serving the lowerdowntown New York community with the building of this criticalcare center. We had to balance the interests of a wide range ofconstituents involved in Saint Vincent's court-supervisedrestructuring process," said Mark Toney. He added, "While SaintVincent's continues to be saddened by the ultimate closure, we arepleased that we could collectively provide an opportunity to bringa 21st Century, new healthcare model to the area."

The new critical care center will provide a free standingemergency department, employing more than 300 medicalprofessionals and physicians that are expected to treat 72,000patients annually. As part of the transaction, North Shore-LIJwill invest $110 million in the project, including a contributionby the Rudin family of $10 million to help offset redevelopmentcosts for the new healthcare facility. In addition, the Rudinfamily will invest in the development and building of newresidential and retail space on the eastside of Seventh Avenue andto build a new park of open space on the triangle parcel of land.

Mr. Toney and several members of the Grant Thornton team haveoverseen the onsite operations and management of the SaintVincent's medical system since January 2010 when Toney wasappointed CRO and Grant Thornton partner, Steve Korf, wasappointed CFO. At the time, the multi-facility inpatient andoutpatient healthcare system was struggling to rein in risinghealthcare costs, after having posted operating losses and revenuedeclines following its emergence from its first bankruptcy processin 2007, which left it saddled with more than $1 billion inliabilities.

As crisis and interim management of Saint Vincent's, GrantThornton and Saint Vincent's lead counsel, Kramer Levin, workedtogether on numerous initiatives to first attempt to preserve thehealthcare system, including obtaining interim funding andidentifying a potential new sponsor. When no parties were steppedforward to provide a full service hospital, the team moved tosecure the continuity of care and protection of patients in anorderly closure.

Mr. Toney further said that he is "appreciative of the collectiveand collaborative efforts of all the key stakeholders and theirprofessionals in the case. The collaboration has resulted inmultiple benefits including continuity of patient care, a complexclosure executed with compassion and respect, an increasedrecovery for its creditors, and ultimately the transaction withNorth Shore-LIJ and the Rudin family that potentiallyreestablishes modern healthcare in lower Manhattan."

The people in the Grant Thornton International Ltd firms providepersonalized attention and the highest quality service to publicand private clients in more than 100 countries. Grant Thornton LLPis the U.S. member firm of Grant Thornton International Ltd, oneof the six global audit, tax and advisory organizations of GrantThornton International, which is comprised of over 100 memberfirms, with 2,500 partners and 30,000 professionals and staff.

About Saint Vincents

Saint Vincents Catholic Medical Centers of New York, doingbusiness as St. Vincent Catholic Medical Centers --http://www.svcmc.org/-- was anchored by St. Vincent's Hospital Manhattan, an academic medical center located in Greenwich Villageand the only emergency room on the Westside of Manhattan fromMidtown to Tribeca, St. Vincent's Westchester, a behavioral healthhospital in Westchester County, and continuing care services thatinclude two skilled nursing facilities in Brooklyn, another onStaten Island, a hospice, and a home health agency serving theMetropolitan New York area.

Saint Vincent Catholic Medical Centers of New York and six of itsaffiliates first filed for Chapter 11 protection on July 5, 2005(Bankr. S.D.N.Y. Case Nos. 05-14945 through 05-14951).

St. Vincents Catholic Medical Centers returned to bankruptcy courtby filing another Chapter 11 petition (Bankr. S.D.N.Y. Case No.10-11963) on April 14, 2010. The Debtor estimated assets of $348million against debts totaling $1.09 billion in the new petition.

Although the hospitals emerged from the prior reorganization inJuly 2007 with a Chapter 11 plan said to have "a realistic chance"of paying all creditors in full, the bankruptcy left the medicalcenter with more than $1 billion in debt. The new filing occurredafter a $64 million operating loss in 2009 and the last potentialbuyer terminated discussions for taking over the flagshiphospital.

SALPARE BAY: Has Until Today to File Disclosure Statement---------------------------------------------------------The U.S. Bankruptcy Court for the District of Oregon set April 8,2011, as deadline for Salpare Bay LLC to file a disclosurestatement explaining a Chapter 11 plan.

The Debtor previously said it needs more time to allow it tofinalize the terms of the settlement with J.E. Dunn Northwest Inc.et al. The terms of the settlement will be incorporated into thedisclosure statement and plan.

Satmex, based in Mexico City, has sought bankruptcy protection forthe second time in less than five years. Satmex first filed forbankruptcy in August 2006 in New York and exited four months laterwith a plan to repay creditors owed about $743 million with newdebt and equity.

In bankruptcy court filings this week in Delaware, the Companydisclosed $441.6 million in assets and $531.6 million in debt asof March 23. Two affiliates, Alterna'TV Corporation andAlterna'TV International Corp., also sought court protection.

Satmex announced late March that it had reached an agreement withthe holders of more than two-thirds of the outstanding principalamount of its first priority senior secured notes due 2011 andsecond priority senior secured notes due 2013 to support aprepackaged plan. The first-priority noteholders are owed about$238.2 million, and the second-priority noteholders are owed about$201.9 million.

Patricio E. Northland, chief executive officer of the Debtors,said in a court filing that the primary purposes of theprepackaged plan are to (i) create a sustainable capital structurefor the Debtors; (ii) provide the financing to replace the Satmex5 satellite with a new satellite, Satmex 8, (iii) better positionSatmex to enter into value-enhancing and other strategictransactions, such as the replacement of the Solidaridad 2satellite with a new satellite, Satmex 7, and (iv) enhancecustomer and employee relationships, confidence, and loyalty.

The restructuring will reduce the amount of Satmex's outstandingindebtedness by approximately $110 million and extending maturityof its secured indebtedness to 2017. The consummation of Planwill significantly de-leverage the Satmex's balance sheet, reduceits interest expense, and help fund the Satmex 8 program. TheDebtors anticipate that trade creditors will not be affected bythe balance sheet restructuring, and the Debtors expect to be ableto continue to pay all of their trade creditors who continue toprovide normal trade credit terms in the ordinary course ofbusiness, subject to bankruptcy court approval.

The Chapter 11 Plan

Mr. Northland, the CEO, relates that the restructuring outlined inthe Plan represents the culmination of more than a year of intensenegotiations with the Debtors' largest constituencies and theMexican government. The Plan, he says, represents the bestpossible alternative for all constituents of the Debtors' estates,he asserts.

-- First priority noteholders owed $328 million, whose debt is secured by substantially all of the Debtors' assets and matures in 2011, will receive payment in full in cash of all outstanding principal and accrued but unpaid interest at the applicable non-default rate of 12% per annum under the terms of the First Priority Notes, without penalty or premium, as of the Effective Date of the Plan. The first priority noteholders will receive interest payments in cash pursuant to an agreement on the use of cash collateral. These noteholders are impaired and were entitled to vote on the Plan.

-- The second priority noteholders, whose $140 million debt is also secured by substantially all of the Debtors' assets, can have their debt converted into direct or indirect equity of Reorganized Satmex, plus have the option of participating in a rights offering and follow-on rights offering for equity in Reorganized Satmex. As an alternative, the second priority noteholders have the option to "cash out," by receiving $0.38 for each dollar of their claim on or about the Effective Date of the Plan. These noteholders are impaired and were entitled to vote on the Plan.

-- All holders of allowed claims against the Debtors, including employees, trade creditors, and other priority and non- priority creditors, will be paid in the ordinary course. The creditors shall be paid in cash in full, on or as soon as possible after the Effective Date of Plan. These creditors are unimpaired and are deemed to accept the Plan.

-- The current equity of Satmex will be purchased by certain holders of Second Priority Notes. Holdsat Mexico S.A.P.I. de C.V. and Satmex International B.V., a wholly-owned subsidiary of Satmex Investment Holdings OP Ltd., and Satmex Investment Holdings L.P., will purchase 100% of the current equity in Satmex for a purchase price of up to $6.25 million. The purchase price for the equity will be funded in part by the proceeds of Satmex's rights offering. Upon consummation of this transaction, which is expected to occur shortly before the Plan goes effective, the existing equity in Satmex will be cancelled, redeemed, diluted, or converted, as the case may be, at an extraordinary meeting of the new shareholders of Satmex.

Proposed Timeline

The Debtors aim for a quick Chapter 11 case, targeting anemergence before June 2011:

Commencement of Solicitation March 8, 2011

Voting Deadline April 4, 2011

Petition Date April 6, 2011

Mailing of Summary and Notice and Notice of Hearing April 8, 2011

Objection Deadline May 6, 2011

Combined Hearing Date May 11, 2011

Effective Date of Plan May 24, 2011

$421 Million in Financing

The proposed restructuring is being funded by more than$421 million in financing for which the Debtors obtainedprepetition commitments.

* $325 Million Exit Debt Financing

As part of the restructuring and to help fund its emergence frombankruptcy, Satmex will obtain $325 million in exit financing fromnew senior secured notes due 2017 or bridge financing. TheDebtors have obtained a commitment to fully fund the debtfinancing from Jefferies Finance LLC.

If provided by Jefferies, the bridge loans will bear interest at arate per annum equal to the three-month LIBOR, adjusted quarterly,plus a spread of 8.50% (the "Rate"). The Rate will increase by(i) 75 basis points upon the 90-day anniversary of the ClosingDate, plus (ii) an additional 75 basis points upon each subsequent90-day anniversary following the initial 90-day anniversary of theBridge Closing Date. Interest on the Bridge Loans (excludingdefault interest, if any) shall not exceed an agreed upon cap and(ii) shall not at any time be less than 10.0% per annum, in eachcase, without giving effect to any default interest.

* $96 Million Rights Offering

The Company will also conduct a rights offering of the reorganizedcompany's equity to raise about $96.25 million. Under the Plan,holders of second priority notes are entitled to receive:

* their pro rata share of equity interests representing 7.146% of the economic interests in Reorganized Satmex, plus and opportunity to participate in the rights offering, whereby a holder of second priority notes may exercise

* rights to subscribe for their pro rata share of equity interests representing 85.753% of the economic interests in Reorganized Satmex; and

* rights to subscribe for their pro rata share of equity interests issued in respect of a follow-on equity offering, within 18 months after the Effective Date.

The terms of the exit financing have been negotiated closely withthe representatives of more than 66-2/3% of the Second PriorityNotes, who will be among those that become the largest holders ofequity in Reorganized Satmex under the terms of the Plan. Thesenoteholders have fully backstopped the offering of Primary Rights,which may be exercised for an aggregate purchase price of up to$96.25 million.

Bankruptcy Professionals

Lazard and its Mexican alliance partner, Alfaro, Davila y Rios,S.C. are serving as financial advisors to Satmex. GreenbergTraurig is serving as U.S. counsel and Santamarina y Steta andRubio Villegas & Asociados are serving as the Company's Mexicancounsels.

Jefferies & Company, Inc. is serving as the financial advisor tocertain holders of the second priority notes. Ropes & Gray LLP isserving as U.S. counsel and Cervantes Sainz as Mexican counsel tothis group.

Dechert LLP is serving as U.S. counsel to certain holders of thefirst priority notes. Galicia Abogados, S.C. is serving asMexican counsel to this group.

Bracewell & Giuliani LLP is serving as counsel to the Series BDirectors of Satmex's Board. Kuri Brena Sanchez Ugarte y Aznar islocal Mexican counsel for the Series B Directors.

Morgan, Lewis & Bockius LLP is counsel to the Secretariat ofCommunications and Transport for the government of Mexico ("SCT").Casares, Castelazo, Frias, Tenorio y Zarate, SC., is local Mexicancounselt to the SCT and Detente Group is the financial advisor tothe SCT.

Satelites Mexicanos, S.A. de C.V., (Satmex) is a Mexico-basedRovider of fixed satellite services in the Americas, with coverageto more than 90% of the population to the Americas, including morethan 45 nations and territories. Satmex also provides LatinAmerican television programming in the United States.

One of only two privately managed FSS providers based in LatinAmerica, Satmex has a fleet comprised of three satellites. Satmex5 and Satmex 6 generate the adjusted EBITDA for Satmex. A thirdsatellite, Solidaridad 2, is inclined orbit but does not generateany adjusted EBITDA. Construction of Satmex 8 is expected to becompleted by July 2012. Satmex also intends to pursue plans for anew satellite, to be named Satmex 7.

SBARRO, INC: Moody's Cuts Probability of Default Rating to 'D'--------------------------------------------------------------Moody's Investors Service downgraded Sbarro, Inc.'s Probability ofDefault Rating to D from Ca/LD. The downgrade was prompted by thecompany's April 4, 2011 announcement that it voluntarily filed forrelief under Chapter 11 of the United States Bankruptcy Code.

Ratings Rationale

Subsequent to today's actions, Moody's will withdraw the ratingsbecause Sbarro has entered bankruptcy. Please refer to Moody'sWithdrawal Policy on moodys.com.

Moody's took these ratings actions on Sbarro:

-- Probability of Default Rating downgraded to D from Ca/LD;

-- Corporate Family Rating affirmed at Ca:

-- Senior secured first lien revolver affirmed at Caa1 (LGD2, 16%);

-- Senior secured first lien term loan affirmed at Caa1 (LGD2, 16%);

-- Senior Unsecured notes affirmed at C (LGD5, 76%);

-- Speculative Grade Liquidity Rating affirmed at SGL-4

The principal methodologies used in this rating were GlobalRestaurant Industry published in July 2008, and Loss Given Defaultfor Speculative-Grade Non-Financial Companies in the U.S., Canadaand EMEA published in June 2009.

The last rating action on Sbarro occurred on March 11, 2011, whenMoody's revised the company's Probability of Default Rating toCa/LD and affirmed its Corporate Family Rating at Ca.

Sbarro, Inc. (Sbarro) headquartered in Melville, NY, is a quickservice restaurant (QSR) operator that serves Italian specialtyfoods, with approximately 476 company-owned restaurants and 538franchised. Annual revenues are approximately $333 million.

SCHUTT SPORTS: Seeks Exclusivity as Confirmation Insurance----------------------------------------------------------Bill Rochelle, the bankruptcy columnist for Bloomberg News,reports that SSI Liquidating, Inc., wants an insurance policy inthe form of an extension of exclusive plan-filing rights if theliquidating Chapter 11 plan isn't approved at the currentlyscheduled May 9 confirmation hearing. An exclusivity motion,Schutt's second, is also on the May 9 calendar. If granted, thenew deadline would be July 5.

As reported in the Feb. 24, 2011, edition of the Troubled CompanyReporter, SSI and the official committee of unsecured creditors inthe Chapter 11 case, filed a proposed liquidating Chapter 11 planon Feb. 18. The Debtor has received approval of a settlement withcompetitor creditors and Riddell Inc., which agreed to drop along-running court battle over football-helmet patents. Thesettlement was designed to pay off major creditors from theproceeds of the sale of Schutt's business to an affiliate ofPlatinum Equity LLC. Under the Plan, the Debtor's remainingassets -- constituting $250,000 in cash and deposits, proceedsfrom a summary judgement against former officers and directors,and avoidance actions -- will be distributed to unpaid creditors.The disclosure statement tells unsecured creditors they can'texpect to recover more than 3% on their $15.9 million in claims.Holders of equity interests won't be receiving anything.

Pursuant to the Riddell settlement, $7.5 million of the proceedsfrom the sale to Platinum Equity held in escrow for payment ofcritical suppliers will be distributed as follows:

* Critical suppliers will be paid $5.3 million from the escrow;

* General unsecured creditors will receive $400,000;

* Creditors who supplied goods within 20 days of bankruptcy will split $800,000;

The Debtor estimated its assets and debts at $50 million to$100 million as of the Petition Date.

Platinum Equity in December 2010 completed the acquisition ofsubstantially all the assets of Schutt Sports through atransaction conducted under Section 363 of the U.S. BankruptcyCode, and Schutt Sports, Inc.'s Chapter 11 estate changed itsname to SSI Liquidating, Inc.

SEAHAWK DRILLING: Hercules Given Approval to Buy Business---------------------------------------------------------The U.S. Bankruptcy Court for the Southern District of Texas,Corpus Christi Division approved an Asset Purchase Agreementbetween Hercules Offshore, Inc., and its wholly owned subsidiary,SD Drilling LLC, and Seahawk Drilling, Inc., and certain of itssubsidiaries, pursuant to which Seahawk agreed to sell toHercules, and Hercules agreed to acquire from Seahawk, all 20 ofSellers' jackup rigs and related assets, accounts receivable andcash and certain liabilities of Sellers in a transaction pursuantto Section 363 of the U.S. Bankruptcy Code.

The purchase price for the Acquisition will be funded by theissuance of approximately 22.3 million shares of Hercules Offshorecommon stock and cash consideration of $25 million, which will beused primarily to pay off Seahawk's Debtor-in-Possession loan.The number of shares of Hercules Offshore common stock to beissued will be proportionally reduced at closing, based on a fixedprice of $3.36 per share, if the outstanding amount of the DIPloan exceeds $25 million, with the total cash consideration not toexceed $45 million. The assets to be acquired will consist of 20jackup rigs located in the U.S. Gulf of Mexico and relatedequipment, accounts receivable, cash and contractual rights.Assumed liabilities will be limited to specific items, such asaccounts payable, with all other liabilities retained by Seahawk.

Hercules entered into the Agreement on Feb. 11, 2011. Closing issubject to other conditions as provided in the Agreement.Assuming those conditions are achieved, the Company anticipatesclosing of this transaction to occur on or about April 20, 2011.

$170 Million Sale

As reported in the Feb. 15, 2011 edition of the Troubled CompanyReporter, the Company has filed for Chapter 11 protection tocomplete the sale of all assets to Hercules Offshore.

The executed APA contemplates the acquisition by Hercules or oneor more of its subsidiaries of substantially all of the assets andjackup rigs of the Debtors through a sale. The aggregateconsideration for the Purchased Assets is:

Bill Rochelle, Bloomberg News' bankruptcy columnist, notes thatsubject to adjustment for the amount of cash required to pay offfinancing for the Chapter 11 case, the price includes $25 millioncash and 22.3 million Hercules shares. Seahawk said when thereorganization began that the sale should pay funded debt andtrade suppliers in full.

Mr. Rochelle notes that Hercules fell 36 cents April 5 to $6.44 inNasdaq Stock Market trading. The day before Seahawk's Chapter 11filing, Hercules closed at $3.62. Based on the April 5 closingprice and without adjustment for paying off financing, the saleended up being worth almost $170 million. Seahawk rose 14 centsApril 5 to $6.50 in over-the-counter trading. It closed at $7.47just before the bankruptcy filing.

Mr. Rochelle notes that the bankruptcy court approved $35 millionin financing for the Chapter 11 case. To the extent that morethan $25 million would be required to pay off the financing, thecash component of the sale price would be increased and the stockcomponent reduced at a fixed rate of $3.36 a Hercules share.

About Seahawk Drilling

Houston, Texas-based Seahawk Drilling, Inc., engages in a jackuprig business in the United States, Gulf of Mexico, and offshoreMexico. It offers rigs and drilling crews on a day ratecontractual basis.

The Debtors disclosed $504,897,000 in total assets and$124,474,000 in total debts as of the Petition Date.

SEA TURTLE: Wells Fargo Acquires Property for $10 Million---------------------------------------------------------Richard Brooks at Bluffton Today reports that Wells Fargo Bankbought the 24-acre property that includes the Sea Turtle Cinemasat a foreclosure auction. The bank held a mortgage of more than$30.4 million on the property at Berkeley Place on the BuckwalterParkway.

According to the report, Wells Fargo's bid of $10 million for theproperty was unchallenged in the sale conducted by Beaufort CountyMaster-in-Equity Marvin H. Dukes III. The bank essentially boughtthe property rights from itself in a "friendly giveback" and cankeep the title or assign the deed to another buyer if one iswaiting in the wings.

Bluffton Today says Wells Fargo, as trustee for J.P. Morgan ChaseCommercial Mortgage Securities, filed a mortgage foreclosureaction May 15, 2009, claiming it was owed more than $27.3 millionplus interest accruing at more than $6,700 a day.

Bluffton Today says Sea Turtle Entertainment had stopped makingmonthly mortgage payments of $155,000 on Sept. 1, 2008, accordingto documents filed in the Beaufort County Court of Common Pleas.The original mortgage, dating from June 29, 2007, was for $23.5million. Kenneth D. McCoy of Faison & Associates LLC, a Charlottereal estate development and investment company, was appointed as areceiver for the bank entitled to take possession of the BerkeleyPlace property and collect rents and profits.

The report says Scott Gochnauer of Gochnauer Mechanical held amechanic's lien against Sea Turtle Entertainment claiming it wasowed money for labor and materials. Steven Crawford & Associatedfiled a debt collection claim against Sea Turtle Entertainmentclaiming it is owned more than $47,000 for a real estatecommission earned for procuring Outback Steakhouse as a commercialtenant at Berkeley Place.

Bluffton Today relates that U.S. Bankruptcy Judge David R. Duncan,in an ordered filed Dec. 9, 2010, denied a motion filed by SeaTurtle Cinemas to invalidate its lease with Sea TurtleEntertainment. The lease, originally executed in November 2005,provided that Sea Turtle Cinemas pay rent of $50,000 per month toSea Turtle Entertainment.

Based in Hilton Head Island, South Carolina, Sea Turtle Cinemas,Inc., Sea Turtle Cinemas operates a 45,000 square foot, 12-screenmovie theater and is the anchor of Berkeley Place shopping center,which is being operated by Sea Turtle Entertainment, LLC. TheLandlord and the Debtor are owned and managed by the same group ofindividuals and entities.

SECUREALERT INC: Authorized Preferred Shares Hiked to 70,000------------------------------------------------------------SecureAlert, Inc., filed Articles of Amendment to its Articles ofIncorporation on March 28, 2011, pursuant to a written consent ofthe holders of a majority of the issued and outstanding shares ofthe Company's Series D Convertible Preferred Stock to amendcertain provisions of the Certificate of Designation of theRelative Rights and Preferences of the Series D ConvertiblePreferred Stock.

The Amendment is effective March 28, 2011, upon filing of theAmendment with the Utah Division of Corporations and CommercialCode.

The Amendment was adopted by the written consent of the holders ofa majority (approximately 62 percent) of the issued andoutstanding shares of the Series D Preferred as of March 11, 2011.Notice of the consent to and adoption of the Amendment was givento all holders of the Series D Preferred by mail on or beforeMarch 17, 2011.

Description of the Amendment

Two substantive changes to the Certificate were approved by theCompany's Board of Directors and by consent of a majority of theholders of the Series D Preferred, and became effective with thefiling of the Amendment. A copy of the Amendment, including theamended Certificate, is available for free at http://is.gd/NS8lQH

In addition to correcting the name of the Company on theCertificate to take into account the intervening change of theCompany's corporate name from "RemoteMDx, Inc." to "SecureAlert,Inc.," the substantive changes to be implemented by the Amendmentare as follows:

(1) Section 1 (Designation and Rank) of the Certificate, as previously amended designated a total of 50,000 shares of the Company's authorized and previously unissued and undesignated Preferred Stock as "Series D Convertible Preferred Stock." The Amendment changes the designated number of shares, increasing the amount from 50,000 shares to 70,000 shares. The total authorized number of shares of Common Stock and Preferred Stock of the Company are not affected by the Amendment.

(2) Section 6 (Voting Rights) of the Certificate, as previously amended, had provided to the holders of the Series D Preferred certain special voting rights with respect to the limited issues of approval of an increase in the number of authorized shares of Common Stock of the Company and a reverse split of the outstanding shares of the Company's Common Stock. A previous amendment of the Company's Articles increasing the number of authorized shares of Common Stock was filed by the Company in May 2010, following the adoption of the Certificate and creation of the Series D Preferred. At the time the Company obtained approval of the May 2010 Amendment increasing the authorized number of shares of Common Stock, the Company acted only after obtaining the approval of each class of outstanding shares (both Common and Series D Preferred) each voting as a class and also voting together on an as- converted basis; the Company did not rely upon or give effect to the special voting rights of the Series D Preferred. This action was taken in response to comments received from the Securities and Exchange Commission to the proxy statement filed by the Company in connection with the solicitation of votes to approve the increase in the authorized shares. The Board of Directors does not presently intend to seek approval of any future amendment by relying on the exercise of these special rights. Consequently, the holders of the Series D have approved the Amendment terminating the special voting rights. Specifically, Section 6(b) of the Certificate has been deleted and the remaining subsections of Section 6 renumbered.

Except for the changes described above, the Amendment does notaffect any other provision of the Articles of Incorporation or theCertificate, as previously amended or the rights of any of theCompany's shareholders.

About SecureAlert Inc.

Sandy, Utah-based SecureAlert, Inc. (OTC BB: SCRA)-- http://www.securealert.com/-- is an international provider of electronic monitoring systems, case management and services widelyutilized by more than 650 law enforcement agencies worldwide.

The Company reported a net loss of $2.07 million on $3.68 millionof revenue for the three months ended Dec. 31, 2010, compared witha net loss of $5.53 million on $3.20 million of total revenue forthe same period a year earlier.

The Company's balance sheet at Dec. 30, 2010, showed$11.61 million in assets, $7.98 million in liabilities, and totalequity of $3.63 million.

SERVICIOS CORPORATIVOS: Fitch Puts 'B+/RR3' Rating on New Notes---------------------------------------------------------------Fitch Ratings has assigned a rating of 'B+/RR3' to ServiciosCorporativos Javer, S.A.P.I. de C.V.'s (Javer) proposed issuancesof up to US$210 million of new notes and up to US$30 million ofnew additional notes.

Fitch currently rates Javer:

-- Foreign Currency Issuer Default Rating (IDR) 'B';

-- Local Currency IDR 'B';

-- US$210 million senior unsecured notes 'B+/RR3'.

The Rating Outlook is Stable.

The ratings continue to reflect Javer's solid regional marketposition in northeastern Mexico with a firm leadership presence inthe state of Nuevo Leon, its sustainable business strategyoriented to the low-income housing segment, its significant landreserve, and its relatively adequate liquidity position. Theratings are constrained by Javer's volatile operationalperformance, moderate leverage, limited geographicdiversification, and reduced capacity to generate positive cashflow from operations (CFFO) in the medium term. Like otherMexican homebuilders, Javer's credit ratings incorporate achallenging operating environment, growing working capitalrequirements, and a high dependence upon government-relatedmortgage funding for low-income homes. The 'B+/RR3' ratings onthe company's unsecured public debt reflect good recoveryprospects in the range of 50%-70% given default.

The proposed transaction includes the issuance of new notes up toUS$210 million plus an additional 18% premium over the notionalamount being exchanged and the issuance of new additional notes upto US$30 million. These notes, the new notes and the additionalnew notes, will mature in 2021 and will be callable after fiveyears. The issuance of the proposed 2021 senior notes iscontingent upon the acceptance of the voluntary exchange offeringby more than 50% of the holders of Javer's US$210 million seniornotes due in 2014, the existing notes. In connection with theexchange offer, the company is soliciting the elimination ofsubstantially all of the restrictive covenants and certain eventsof default applicable to the existing notes. The final settlementdate of the proposed transaction is expected to be April 18, 2011.

Overall, Fitch views the proposed transaction neutral to Javer'scredit quality. On a pro forma basis, the completion of theproposed transaction is expected to increase the company'sleverage, measured by Total Debt/ EBITDA ratio, to approximately3.8 times (x). The negative impact of increasing leverage wouldbe offset by the improvement in Javer's liquidity position and byextending its debt maturities with the proposed transaction. Alsoincorporated in the ratings is the expectation that the company'sleverage will return to 3.0x during the second half of 2011 drivenprimarily by a significant improvement in the company's cash flowgeneration, measured by EBITDA. Failure to accomplishexpectations incorporated in the ratings would likely result in adowngrade.

At the end of December 2010, Javer had MXN2.65 billion(approximately US$214.6 million) of total debt. The company'sdebt consists primarily of the US$210 million senior notes due in2014. During 2010, Javer generated MXN886 million (US$72 millionapproximately) of EBITDA, an 18.7% decline over the company'sEBITDA for 2009 (MXN1.09 billion). These figures resulted in atotal debt-to-EBITDA ratio of 3.0x for 2010. On a pro forma basis,the company's gross leverage is expected to increase to around3.8x. The pro forma scenario considers the company's LTM EBITDAby December 2010 of MXN886 million and total debt amount ofapproximately MXN3.3 billion (US$281.4 million approximately).The total pro forma debt amount consists of: a conversion rate of97% over the existing notes, equal to approximately US$204.2million; US$36.8 million related to the 18% premium over thenotional amount being exchanged; the issuance of the newadditional notes for US$30 million; and other debt relatedprimarily to financial leases.

The ratings consider expected improvement in the company's cashflow generation to occur during 2011. The company's units sold in2010 were 16,063 units, similar to 2009 level (16,025 units). Thecompany's total units and EBITDA in 2011 are expected to be around19,000 units and MXN1.2 billion, respectively. The company'stotal debt by the end of 2011 is expected to remain similar to thepro forma levels. Based on these prospects, the company'sleverage by the end of 2011 is expected to be around 3x.

Liquidity expected to improve. The company's debt maturityprofile presents an average life of four years by the end of 2010,with no material debt maturities during the following years. Withthe proposed transaction, the company's debt maturity profile isexpected to improve, being extended to approximately 8.6 years,enhancing the company's financial flexibility in the short andmedium term. In addition, the company's cash position is expectedto remain relatively stable around MXN500 million during 2011.

SHADY ACRES: Files Revised Plan, Sets May 4 Confirmation Hearing----------------------------------------------------------------Shady Acres Dairy filed with the U.S. Bankruptcy Court for theEastern District of California a revised Chapter 11 plan ofreorganization, which contains changes to the proposed treatmentof claims under Classes 8 and 11.

Under the revised plan, Shady Acres proposed to pay the Class 8secured claim of Penny Newman Grain Co. through equal monthlypayments commencing on the effective date of the plan for a periodof five years. The company estimates that the payments will beabout $2,575 per month.

To satisfy the Class 11 secured claim of Western Finance and LeaseInc., Shady Acres proposed to make monthly payments of $1,400,commencing on the effective date and continuing on the same day ofeach month thereafter until the secured claim is paid in full.

Under the revised plan, interest will accrue at the contract rateof 7.11% per annum from and after the effective date based upon asix-year amortization of the balance owed plus $2,000 in attorneysfees and costs on the Class 11 secured claim as of the effectivedate.

Shady Acres also proposed that payments made to Western Financeshould be applied first to interest and then to principal.

All terms of the equipment finance agreement between Shady Acresand Western Finance will remain in full force and effect otherthan as modified under the plan. The revised plan furtherprovides that the automatic stay will lift automatically and thatShady Acres will immediately tender the collateral to WesternFinance if an event of default occurs.

Shady Acres also disclosed in the revised plan certain financialprojections for the period March 1, 2011 to February 28, 2014,which the company based from the improvements made on its businessoperations.

Shady Acres projects that its business will generate gross incomeof about $34,076,546 between March 1, 2011, and February 28, 2014,and that it will incur $28,609,441 in expenses, leaving a netincome of $5,469,104. The company also projects that the paymentsrequired by the restructuring plan will be $4,822,510 for the sameperiod.

Judge Michael G. Williamson, bankruptcy judge of the United StatesBankruptcy Court for the Middle District of Florida Tampa Divisionpreviously conditionally approved the disclosure statement filedon February 28, 2011.

The hearing at which the Court will determine whether to approvethe Amended Disclosure Statement and confirm the Plan will takeplace on April 20, 2011 at 1:30 pm, at the Sam M. Gibbons UnitedStates Courthouse, 801 N. Florida Ave, Tampa, Florida 33602.

The deadline for filing objections to the Amended DisclosureStatement's adequacy or to the confirmation of the Plan is April13, 2011.

SHS RESORT: Court Enters 3rd Interim Order to Use Cash Collateral-----------------------------------------------------------------Judge Michael G. Williamson has entered a third interim ordergranting S.H.S. Resort, LLC's emergency request to use cashcollateral on March 28, 2011.

The Debtor is authorized to use cash collateral in the regularcourse of its business operations and will use it as adequateprotection, to provide Wells Fargo with a replacement lien to thesame extent and priority as Wells Fargo held before the PetitionDate.

The cash collateral will be used by the Debtor according to abudget, a copy of which is available for free at:

SINOBIOMED INC: Signs Letter of Intent to Merge With Sitoa----------------------------------------------------------The Board of Directors of Sinobiomed Inc. announced the signing ofa binding letter of intent to merge with Sitoa, Corporation.

Sinobiomed, having recently disposed of all its biopharmaceuticalbusinesses, will acquire 100% of Sitoa in a share exchange.

Sitoa, a California based company, was founded in 2001 with thegoal to make it easier for retailers and product suppliers to sellonline. The Sitoa solution was based on providing an easy-to-useand comprehensive platform to expand product offerings and takeadvantage of fast-moving market opportunities. Starting with oneonline retail partner -- Sears.com -- and a single product partner-- Northgate Computers, Inc. -- the Sitoa Network grew to includemany of the world's top online retailers and over 1000 name brandand boutique product partners.

The merger with Sitoa enables Sinobiomed to enter a high growtharea of business which will expand into the rapidly expanding areaof marketplace and social media based online commerce and roll-outSitoa's platform into China and Southeast Asia.

Cal Lai, CEO of Sitoa comments: "We are excited to become a publiccompany which allows us to accelerate our growth and expand ourreach to key customers and markets. We have a proven 10 yeartrack record of conducting e-commerce business and are wellpositioned to scale up."

George Yu, CEO of Sinobiomed, who will move to the role of ChiefFinancial Officer of Sitoa, added: "Sitoa is a fast growingcompany in the high growth areas of social media and marketplacee-commerce. We are excited about the prospects of the merger."

The Company will change the name and ticker symbol upon theclosing of the merger.

About Sinobiomed

Sinobiomed Inc. formerly CDoor Corp. (OTC BB: SOBM)-- http://www.sinobiomed.com/-- was incorporated in the State of Delaware. The Company is a Chinese developer of geneticallyengineered recombinant protein drugs and vaccines. Based inShanghai, Sinobiomed currently has 10 products approved or indevelopment: three on the market, four in clinical trials andthree in research and development. The Company's products respondto a wide range of diseases and conditions, including: malaria,hepatitis, surgical bleeding, cancer, rheumatoid arthritis,diabetic ulcers and burns, and blood cell regeneration.

The Company reported a net loss of $577,531 on $0 of revenue forthe year ended Dec. 31, 2010, compared with net income of $3.63million on $0 of revenue during the prior year.

The Company currently has no operations and no source of income.The Company intends to seek out opportunities to enter or acquirenew business operations. The underlying value of the company isentirely dependent on the ability of the Company to find andimplement a new business opportunity and obtain the necessaryfinancing to capitalize on such opportunity.

Schumacher & Associates, Inc., in Littleton, Colorado, noted thatthe Company has experienced losses since commencement ofoperations, and has negative working capital and stockholders'deficit which raise substantial doubt about its ability tocontinue as a going concern.

SIRIUS XM: Increases Purchase Price for Convertible Notes---------------------------------------------------------Sirius XM Radio Inc. announced on April 6, 2011, that it hasincreased the purchase price offered in its tender offer for anyand all of its outstanding 3-1/4% Convertible Notes due 2011 to$1,010 per $1,000 principal amount of Notes tendered, plus accruedand unpaid interest up to, but not including, the payment date ofthe Notes.

Full details of the terms and conditions of the tender offer areincluded in SiriusXM's Offer to Purchase dated March 24, 2011, asamended hereby, and the related Letter of Transmittal. Except asdescribed in this press release, the terms of the tender offerremain the same as set forth in the Offer to Purchase and therelated Letter of Transmittal.

SiriusXM's obligation to accept for purchase and to pay for Notesvalidly tendered and not withdrawn pursuant to the tender offer issubject to the satisfaction or waiver of certain conditions, whichare more fully described in the Offer Documents.

Holders with questions or who would like additional copies of theOffer Documents may call the Information Agent, Global BondholderServices Corporation, toll free at (866) 924-2200. The OfferDocuments are also available online for free on the website of theSecurities and Exchange Commission at www.sec.gov as exhibits tothe Tender Offer Statement on Schedule TO and the amendmentthereto filed by SiriusXM with the SEC.

About Sirius XM Radio

Based in New York, Sirius XM Radio Inc. has two principal whollyowned subsidiaries, XM Satellite Radio Holdings Inc. and SatelliteCD Radio Inc. XM Satellite Radio Holdings Inc. owns XM SatelliteRadio Inc., the operating company for the XM satellite radioservice. Satellite CD Radio Inc. owns the Federal CommunicationsCommission license associated with the SIRIUS satellite radioservice. XM Satellite Radio Inc. owns XM Radio Inc., the holderof the FCC license associated with the XM satellite radio service.

In July 2008, the Company's wholly owned subsidiary, Vernon MergerCorporation, merged with and into XM Satellite Radio Holdings Inc.and, as a result, XM Satellite Radio Holdings Inc. became Sirius'wholly owned subsidiary.

The Company's balance sheet at Dec. 31, 2010 showed $7.38 billionin total assets, $7.17 billion in total liabilities and$207.64 million in stockholders' equity.

In October 2010, Moody's said the upgrade of Sirius XM's CFR to'B3' from 'Caa1' reflects Moody's view that EBITDA (incorporatingMoody's standard adjustments) less capital spending to interestexpense will grow and comfortably exceed 1x in 2011, reflectinghigher than anticipated subscribers and revenue and reduced debtservice and programming costs. As announced on October 1, 2010,the company expects to add more than 1.3 million subscribers inFY2010, bringing the year end total to 20.1 million and exceedingprior expectations. Despite high churn in the subscriber base,vulnerability to cyclical consumer spending, and increasingwireless competition, Moody's believe subscriptions will growthrough the end of 2011 as the economy and automotive salesrecover. Heightened capital spending related to the ongoingconstruction and launch of two satellites will likely limit freecash flow generation in 2011. The rating also reflects thecompany's sizable debt burden as well as the need to investsignificantly in programming, marketing, launching new services,and maintaining a satellite fleet to attract subscribers inaddition to delivering content.

"The Sithe rating is the same as the Dynegy corporate creditrating given its significant exposure to Dynegy as the tollingcounterparty and project owner, as well as the lack of anystructural ring-fencing provisions that can serve to separate thedefault risk on Sithe from that of Dynegy," said Standard &Poor's credit analyst Swami Venkataraman. "Project upgrades anddowngrades will follow actions on the Dynegy corporate creditrating."

Sithe is a 1,000 megawatt (MW) combined-cycle, gas-turbineplant in Scriba, N.Y. It has an unforced-capacity salesagreement with Consolidated Edison Co. of New York Inc. (ConEdison; 'A-/Stable/A-2') for about 740 MW of its unforcedcapacity through 2014. Con Edison has no rights to energyfrom the project. Dynegy has access to all the energy fromthe project through a fixed-price tolling agreement for about579 MW and through a financial swap agreement for 375 MW.

The project has been an exempt wholesale generator since2003 and continues to provide Rio Tinto Alcan Inc. (Alcan;'BBB+/Positive/A-2') with thermal energy. The project alsoprovides a fixed-to-floating swap with Alcan for electricenergy, which Alcan purchases from Niagara Mohawk Power Corp.(A-/Stable/A-2). Virtually all of the project's gross margin(revenues less fuel expense) comes from contracts with Con Edison(about 55%) and Dynegy (about 45%). The residual revenues arederived from agreements with Alcan, residual market capacitysales, and interest income. The project is 100% owned by SitheEnergies Inc. through direct and indirect ownership of SitheEnergies' affiliates. Dynegy, in turn, owns 100% of SitheEnergies.

SKINNY NUTRITIONAL: Delays Filing of 2010 Annual Report-------------------------------------------------------Skinny Nutritional Corp. filed with the U.S. Securities andExchange Commission a Form 12b-25 for a 15-day extension forfiling its Annual Report on Form 10-K for the period ended Dec.31, 2010. The Company said it will not be in position to file itsForm 10-K by the prescribed filing date without unreasonableeffort or expense due to the delay experienced by the Company incompleting its financial statements for the period ended Dec. 31,2010. This has resulted in a delay by the Company in obtainingthe completed audit of such financial statements by itsindependent registered public accounting firm. Therefore,Company's management is unable to finalize the financialstatements and prepare its discussion and analysis in sufficienttime to file the Form 10-K by the prescribed filing date. TheCompany anticipates that it will file its Form 10-K no later thanfifteenth calendar day following the prescribed filing date.

About Skinny Nutritional

Bala Cynwyd, Pa.-based Skinny Nutritional Corp. (OTC BB: SKNY.OB)-- http://www.SkinnyWater.com/-- has developed and is marketing a line of enhanced waters, all branded with the name "Skinny Water"that are marketed and distributed primarily to calorie and weightconscious consumers.

The Company's balance sheet as of Sept. 30, 2010, showed$2,163,677 in total assets, $4,341,282 in total currentliabilities, and a stockholders' deficit of $2,177,605.

As reported in the Troubled Company Reporter on April 6, 2010,Marcum LLP, in Bala Cynwyd, Pa., expressed substantial doubt aboutthe Company's ability to continue as a going concern afterauditing the Company's financial statements for the year endedDec. 31, 2009. The independent auditors noted that theCompany has incurred losses since inception and has not yet beensuccessful in establishing profitable operations.

SOMERSET INTERNATIONAL: Posts $1.5 Million Net Loss in 2010-----------------------------------------------------------Somerset International Group, Inc. filed on March 31, 2011, itsannual report on Form 10-K for the fiscal year ended Dec. 31,2010. The financial statements have not been audited by theCompany's independent registered accounting firm. Therefore,these statements have not been prepared pursuant to the rules andregulations of the Securities and Exchange Commission.

"Currently, the Company does not have significant cash or othermaterial assets, nor does it have operations or a source ofrevenue which is adequate to cover its administrative costs for aperiod in excess of one year and allow it to continue as a goingconcern," the Company said in the filing.

The Company's debt obligations are comprised of Dutchess notespayable issued in connection with the Company's acquisitions ofVanwell and Meadowlands and their acquisition of Fire Control andother various notes payable. All notes past their respectivepayment due dates are in default. On Dec. 1, 2010, the Companyreceived a notice of default from Dutchess Private Equities Fundrequiring payment in full of outstanding obligations. The Companyis attempting to resolve these outstanding obligations withDutchess Private Equities Fund.

The Company reported a net loss of $1.5 million on $3.6 million ofrevenues for 2010, compared with a net loss of $1.7 million on$4.2 million of revenues for 2009.

At Dec. 31, 2010, the Company's balance sheet showed $3.8 millionin total assets, $8.7 million in total liabilities, andstockholders' deficit of $4.9 million.

Bedminster, N.J.-based Somerset International Group, Inc.'scurrent activity is the acquisition of profitable and near termprofitable private small and medium sized businesses andmaximizing the profitability of its acquired entities and to actas a holding company for such entities.

One of its subsidiaries designs, assembles, installs and maintainsa proprietary personal security system for colleges and mentalhealth facilities where potential for crime exists.

Three of its subsidiaries specialize in the distribution, sale,installation, and maintenance of fire and security equipment andsystems that include fire detection, video surveillance, andburglar alarm equipment.

The Primer/Probe database and software, for instance, is a user-friendly interface for the repository of all primer/probe relatedinformation from design, sequence information across multipledesign versions to serial quality control test data. The softwareprovides a secure and audit-friendly database that supports ametrics driven approval of reagents designed to meet specificperformance characteristics.

Mr. Finn also stated that the patent number information announcedin his March 21, 2011 press release was incorrect. Patent number6,940,439 should have been stated as 6,960,439.

Persons interested in bidding must sign a ConfidentialityDisclosure Agreement obtained from Finn's office -jffinnjr@finnwarnkegayton.com or 781-237-8840. They will thenreceive a bid package.

About Joseph F. Finn

Joseph F. Finn, Jr., C.P.A. is the founding partner of the firm,Finn, Warnke & Gayton -- http://www.finnwarnkegayton.com-- Certified Public Accountants of Wellesley Hills, Massachusetts. Heworks primarily in the area of management consulting fordistressed enterprises, bankruptcy accounting and related matters,such as assignee for the benefit of creditors and liquidatingagent for a corporation. He has been involved in a number of loanworkouts and bankruptcy cases for thirty-five (35) years. His mostrecent Assignments for the Benefit of Creditors in the biotechfield include Spherics, Inc., ActivBiotics, Inc., ProspectTherapeutics, Inc., EPIX Pharmaceuticals Inc. and NoblePeak VisionCorp.

SOUTHLAKE AVIATION: Section 341(a) Meeting Scheduled for May 3--------------------------------------------------------------The U.S. Trustee for Region 6 will convene a meeting of SouthlakeAviation, LLC's creditors on May 3, 2011, at 10:15 a.m. Themeeting will be held at the Office of the U.S. Trustee, 1100Commerce Street, Room 976, Dallas, Texas.

This is the first meeting of creditors required under Section341(a) of the U.S. Bankruptcy Code in all bankruptcy cases.All creditors are invited, but not required, to attend. ThisMeeting of Creditors offers the one opportunity in a bankruptcyproceeding for creditors to question a responsible office of theDebtor under oath about the company's financial affairs andoperations that would be of interest to the general body ofcreditors.

SOUTHLAKE AVIATION: Taps Quilling Selander as General Counsel-------------------------------------------------------------Southlake Aviation, LLC, asks for authorization from the U.S.Bankruptcy Court for the Northern District of Texas to employQuilling, Selander, Lownds, Winslett & Moser, P.C., as generalcounsel.

The Hon. Gregg W. Zive of the U.S. Bankruptcy Court for theDistrict of Nevada (Reno) will convene a hearing on June 3, 2011,at 2:00 p.m., to consider approval of the plan.

Both the Debtors and the Committee contemplate for the orderlyliquidation of the Debtors' assets over time. The two PlanProponents say liquidation will result in greater recovery to allof the Debtors' creditors.

-- Class 2 consisting of the Deutsche Bank Allowed Secured Claims under the 2005 Indenture and the 2008 Indenture, which are held by the holders of notes issued pursuant to the Indenture appointing Deutsche Bank as Indenture Trustee

-- Class 3 consisting of other secured claims

Holders of US Bank Restructured Note will have a one-time optionto credit bid an amount equal to or greater than any offeracceptable by the Chapter 11 Trustee for property secured by saidNote provided that the holder of the Note gives written notice ofthe credit bid to the Trustee within 48 hours after notice by theTrustee to the holder of Trustee's acceptance of an offer topurchase the property. Any credit bid must include a cashcomponent to satisfy: (1) the costs of the sale of that property,(2) the management fees allocated to the property for which thecredit bid was submitted, and (3) any senior lien, provided that,to the extent any credit bid includes a cash component that isused to satisfy any senior lien, that holder will receive areplacement lien to secure repayment of the amount.

STATION CASINOS: Reports $565 Million Net Loss in 2010------------------------------------------------------Station Casinos, Inc., on March 31, 2011, filed with the U.S.Securities and Exchange Commission its annual financial reportfor year ended December 31, 2010, in Form 10-K.

As a result the persistence of weak economic conditions in theUnited States and particularly in Las Vegas, including depressedreal estate values, significant unemployment and low consumerconfidence levels adversely affected Station Casinos' netrevenues and gross margin during 2010, and these trends areexpected to continue into 2011.

During the year ended December 31, 2010, cash used in operatingactivities was approximately $4.6 million, as compared to cashused in operating activities of $126.7 million for the year endedDecember 31, 2009, reflecting a year over year decrease in cashused in operating activities of $122.1 million. The improvementin cash flows from operations resulted primarily from a decreaseof $40.4 million in additions to restricted cash, a decrease of$95.1 million in cash paid for interest and a $10.1 millionincrease in other operating cash inflows, partially offset by anincrease of $23.5 million in cash used for reorganization items.

During the year ended December 31, 2010, restricted cashincreased by $119.0 million due primarily to restrictions placedon SCI's cash by the lenders of the CMBS Loans and the BankruptcyCourt, partially offset by restricted cash released in connectionwith the DIP financing. The decrease in cash paid for interestduring 2010 was primarily due to the cessation of interestpayments on certain portions of SCI's debt.

As of December 31, 2010, SCI had $165.4 million in cash and cashequivalents, of which approximately $83.5 million is in SCI'scasino cages to be used for the day-to-day operations of itsproperties and the remaining $81.9 million is to be used forgeneral corporate purposes.

Frank J. Fertitta III, chairman of the board, chief executiveofficer and president of Station Casinos, Inc., disclosed that onJuly 31, 2009, SCI entered into an unsecured, subordinatedadministrative priority DIP Credit Agreement with Vista Holdings,LLC, a non-debtor subsidiary, as administrative agent and lender,and the certain other lenders. The DIP Credit Agreement, asamended, provided for a $185 million revolving credit facilitythat was funded on a committed basis for so long as VistaHoldings had cash and cash equivalents on hand in excess of $100million and on a discretionary basis thereafter. The proceeds ofthe loans incurred under the DIP Credit Agreement were used forworking capital and other general corporate purposes of theCompany and were available for intercompany loans to SCI'ssubsidiaries during the pendency of the Chapter 11 Case.Advances under the DIP Credit Agreement bear interest at a rateequal to 2.5% plus LIBOR. The DIP Credit Agreement matured onAugust 10, 2010, and at December 31, 2010, $172.0 million inadvances remained outstanding under the DIP Credit Agreement.

2011 Cash Requirements

Mr. Fertitta says SCI's primary cash requirements for 2011 areexpected to include (i) approximately $55 million to $75 millionfor maintenance and other capital expenditures, (ii) paymentsrelated to SCI's existing and potential Native American projectsand (iii) expenses related to the Chapter 11 Case. SCI'sliquidity and capital resources for 2011 are expected to besignificantly affected by the Chapter 11 Case and completion of arestructuring of its indebtedness.

At this time it is not possible to predict with certainty theeffect the Chapter 11 Case and a restructuring will have on thecompany's business or various creditors, Mr. Fertitta notes.

SCI's future results depend upon it successfully implementing, ona timely basis, a restructuring of its indebtedness. Itsoperations and relationship with its customers, employees,regulators, vendors and agents may be adversely affected by thefiling of the Chapter 11 Case.

As a result of the filing of the Chapter 11 Case, Mr. Fertittasays he expects SCI to continue to incur, among other things,increased costs for professional fees and similar expenses. Inaddition, the filing may make it more difficult to retain andattract management and other key personnel and requires seniormanagement to spend a significant amount of time and effortdealing with Station Casinos' financial reorganization instead offocusing on the operations of its business.

SCI's cash flow may be affected by a variety of factors, many ofwhich are outside of its control, including regulatory issues,competition, financial markets and other general businessconditions.

Mr. Fertitta says he cannot give an assurance that SCI willpossess sufficient income and liquidity to meet all of itsliquidity requirements and other obligations. Although hebelieves that cash flows from operations and borrowings under thePast Revolving Loan will be adequate to meet Station Casinos'financial and operating obligations in 2011, its results forfuture periods are subject to numerous uncertainties.

On July 28, 2010, the Debtors filed a Chapter 11 Plan ofReorganization and an accompanying Disclosure Statement. TheCourt entered an order approving the Disclosure Statement on July29, 2010 and confirmed the Plan on August 27, 2010.

On March 9, 2011, Station GVR Acquisition, LLC, an indirectsubsidiary of Station Casinos LLC, and Green Valley Ranch Gaming,LLC entered into an Asset Purchase Agreement, pursuant to whichthe GVR Purchaser will purchase substantially all of the assetsand assume certain specified liabilities of Green Valley for $500million through a Chapter 11 prepackaged plan of reorganization.The GVR Asset Purchase Agreement is subject to, among otherthings, the Court entering a confirmation order confirming theChapter 11 plan of Green Valley.

On March 22, 2011, the sellers under the Asset Purchase Agreementand Green Valley and Aliante Gaming LLC commenced a solicitationof approvals for the Subsidiary Plan to implement and facilitatethe sale and related restructuring transactions described in theAsset Purchase Agreement, the GVR Asset Purchase Agreement and areorganization of Aliante, pursuant to which its lenders wouldreceive the equity of Aliante and $45 million in secured loans inexchange for their claims.

Station Casinos expects that the Subsidiary Chapter 11 Cases willbe filed in the second quarter of 2011.

* * *

The consolidated financial statements have been prepared assumingthat SCI will continue as a going concern. SCI commenced theChapter 11 case on July 28, 2009. The pending Chapter 11 caseraises substantial doubt about SCI's ability to continue as agoing concern. The consolidated financial statements do notinclude any adjustments to reflect the possible future effects onthe recoverability and classification of assets or the amountsand classification of liabilities that may result from theoutcome of the uncertainty.

Station Casinos, Inc., is a gaming and entertainment company thatcurrently owns and operates nine major hotel/casino properties(one of which is 50% owned) and eight smaller casino properties(three of which are 50% owned), in the Las Vegas metropolitanarea, as well as manages a casino for a Native American tribe.

In its bankruptcy petition, Station Casinos said that it hadassets of $5,725,001,325 against debts of $6,482,637,653 as ofJune 30, 2009. About 4,378,929,997 of its liabilities constituteunsecured or subordinated debt securities.

STATION CASINOS: Has Revised Transition Agreement for Green Valley------------------------------------------------------------------Station Casinos, Inc. and GV Ranch Station, Inc. submitted to theUnited States Bankruptcy Court for the District of Nevada arevised transition services agreement in connection with theirrequest for authority to enter into a series of transactions thatwill transfer the ownership of Green Valley Ranch Resort, Spa &Casino to a group led by the Fertitta family.

The Revised Transition Services Agreement reflects comments fromcertain parties-in-interest on the form previously filed with theRequest. The Revised TSA also added a provision that the Debtorsand Fertitta Gaming LLC may not terminate the delivery ofservices if the requisite majority of the first lien lenders tothe Debtors agree to continue to, and thereafter do, timely payin full in cash all management fees and to continue to, andthereafter do, timely reimburse in cash all Owner's Expenses andFG Owner's expenses and provide adequate assurance of the paymentand reimbursement on terms reasonably satisfactory to SCI and FGManager, as applicable.

As previously reported, the Debtors also asked the Court toapprove a stipulation providing for the rejection and terminationof a licensing and support agreement Green Valley entered intowith SCI and GV Ranch, which governed Green Valley's use ofcertain trademarks and other intellectual property owned by SCIand the amendment of an operating agreement, which designated GVRanch as manager of hotel and casino operations for the Hotel.

If the Stipulation is approved, Green Valley will be obligateddirectly to SCI for management fees in respect the SCI ManagementServices as specified in the Transition Services Agreement andSCI will provide SCI Management Services to Green Valley up to,at the latest, the effective date of SCI's Plan ofReorganization.

A blackline version of the Revised Transition Services Agreementis available for free at:

The Court will convene a hearing on April 11, 2011, to considerthe request. Objections were due March 29.

About Station Casinos

Station Casinos, Inc., is a gaming and entertainment company thatcurrently owns and operates nine major hotel/casino properties(one of which is 50% owned) and eight smaller casino properties(three of which are 50% owned), in the Las Vegas metropolitanarea, as well as manages a casino for a Native American tribe.

In its bankruptcy petition, Station Casinos said that it hadassets of $5,725,001,325 against debts of $6,482,637,653 as ofJune 30, 2009. About 4,378,929,997 of its liabilities constituteunsecured or subordinated debt securities.

According to the Las Vegas Sun, the dispute arose in Novemberwhen Station's Sunset Station hotel-casino in Henderson sued thecity in Clark County District Court, charging it wrongly approvedplans for unrestricted gaming without a hotel at the now-closedRoadhouse casino on Boulder Highway. Daily Reporter said StationCasinos adds the accusation to a lawsuit it filed on Novemberalleging that the city of Henderson approved a gambling site tooperate without hotel rooms.

Nevada requires gambling sites to have at least 200 hotel roomsbefore granting unrestricted gambling licenses. Station insiststhat, if the Roadhouse wants unrestricted gaming, it needs tocomply with the state law. In January, Station amended itsNovember complaint alleging that from November, the city counciland Stephanie Garcia-Vause, director of community development,held a series of private discussions concerning Sunset Station'sappeal.

The city and the Roadhouse, Las Vegas Sun said, insist that theRoadhouse is exempt from the requirement. The city is asking thecourt to strike what it calls the "scandalous" and "baseless"open meeting claims from the Station lawsuit because it couldleave council members open to personal criminal liability, andharm the reputations of two council members currently running forre-election, Lahontan Valley News reported.

The open meeting claim is set to be heard on April 15, 2011.

About Station Casinos

Station Casinos, Inc., is a gaming and entertainment company thatcurrently owns and operates nine major hotel/casino properties(one of which is 50% owned) and eight smaller casino properties(three of which are 50% owned), in the Las Vegas metropolitanarea, as well as manages a casino for a Native American tribe.

In its bankruptcy petition, Station Casinos said that it hadassets of $5,725,001,325 against debts of $6,482,637,653 as ofJune 30, 2009. About 4,378,929,997 of its liabilities constituteunsecured or subordinated debt securities.

The CreditWatch placement follows Steinway's announcement that itintends to redeem for cash $85 million in aggregate principalamount of the company's $152.5 million outstanding 7.0% seniornotes due 2014. "In our opinion, this could result in ameaningful improvement in Steinway's credit protectionmeasures relative to current levels," said Standard & Poor'scredit analyst Jeffrey Burian. "We could consider an upgrade ofthe company if leverage improves to and can be sustained below4.0x."

In resolving the CreditWatch listing, Standard & Poor's willassess the effect of this anticipated debt reduction on thecompany's financial profile. "We currently believe near-termpotential for raising Steinway's corporate credit rating islimited to one notch. We expect to resolve the CreditWatchlisting after meeting with management and the company completesits partial redemption of its 7.0% senior notes due 2014," S&Prelated.

STEWART ENTERPRISES: S&P Lowers Rating of Sr. Notes to 'BB-'------------------------------------------------------------Standard & Poor's Ratings Services said it lowered its ratings onJefferson, La.-based Stewart Enterprises Inc.'s senior unsecuredconvertible notes to 'BB-' from 'BB' in conjunction with assigningratings to the $200 million senior unsecured note offering due2019 on April 4, 2011. "We also revised the recovery rating to'5' from '4', indicating a modest (10% to 30%) recovery forlenders in the event of payment default. This is based on ourexpectations that the senior secured revolving credit facilitywill likely be increased in the near term," S&P related.

The company's strong liquidity reflects its balance sheet cash,revolver availability and ability to generate consistent operatingcash flow in excess of needs. Stewart's fair business riskprofile reflects its focus in a competitive and fragmentedindustry with limited (although predictable) long-term growthpotential. Rising consumer preference for lower cost servicesthat impedes Stewart's growth prospects are partially outweighedby the company's operating visibility tied to contracted preneedsales. While Stewart has a narrow focus in a highly fragmentedindustry, it operates as the second-largest rated funeral servicesprovider in North America, with a network of 218 funeral homes and141 cemeteries in 24 states and Puerto Rico. The company'sestimated $1.7 billion in preneed sales contracts (equal tothree years of revenue), should convert to revenue over time asservices are rendered, thus bolstering prospects in the mediumterm.

"At the same time, we affirmed all of our existing ratings on thecompany, including the 'B-' corporate credit rating. The ratingoutlook is negative," S&P related.

The company will use proceeds from the proposed notes issuance torepay the $206 million outstanding balance on its existing termloan as well as the $20 million balance on its furniture, fixture,and equipment facility. "We will withdraw the existing 'B-'issue-level ratings on the company's senior secured creditfacilities (including a $10 million revolving credit facility andthe term loan) on the closing of the proposed notes offering," S&Psaid.

Also, on the closing of the notes offering, the company intends toenter into a new senior secured credit facility, providing for a$10 million revolving line of credit.

"The 'B-' corporate credit rating reflects HSP's relianceon a single property for cash flow generation and the highlycompetitive dynamics in the region," said Standard & Poor'scredit analyst Michael Listner. "Another factor is our beliefthat the company will likely pursue a future debt-financedexpansion at the SugarHouse Casino despite the limited operatinghistory at the property and weaker-than-expected slot performance.Additionally, a meaningful portion of the company's capitalstructure is comprised of preferred and senior preferred equityinterests, which accrue a substantial noncash rate of return,"S&P related.

"Although the existing credit agreement and the proposed notesindenture will restrict the company's ability to make cashdistributions to the equityholders, we consider the preferredequity to have debt-like characteristics given that the securitieslikely represent a future claim on cash. When included as acomponent of the company's debt balance, the noncash accrual onthe preferred equity inhibits the company's ability to deleverunder our current performance expectations," S&P added.

"We initially placed the ratings on CreditWatch on June 17,2010, when Sunoco announced plans to separate its SunCokeEnergy business from the remainder of the company. TheCreditWatch listing indicates that we could either lower oraffirm the ratings following the completion of our review.Approximately $2.4 billion of consolidated funded debt wasoutstanding as of Dec. 31, 2010," S&P related.

"We believe that the planned spin-off of SunCoke would materiallyweaken Sunoco's business risk profile because it would result ina more concentrated portfolio of assets in refining, retailmarketing, logistics, and chemicals," said Standard & Poor'scredit analyst Patrick Jeffrey. We have viewed the company'sSunCoke business as providing some operating stability because itgenerates fairly steady cash flow and has good growth prospects.We expect the company will focus more on increasing its retailmarketing and logistics businesses, rather than its refiningbusiness. Although the sale of the Toledo refinery reducedSunoco's exposure to the refining industry and its recentoperating challenges, its two remaining refining assets wouldoperate in the highly competitive PADD 1 market. While thesetransactions would enhance liquidity and improve the company'scapital structure, we believe the material loss of EBITDA,especially from the SunCoke business, offsets these factors," S&Prelated.

"We will continue to monitor developments regarding the separationof the SunCoke Energy business. Should this transaction becompleted, we would most likely lower our corporate credit anddebt issue ratings on Sunoco to 'BB+'. Should the SunCoketransaction be materially delayed or cancelled, we wouldreview the company's business and financial risks to determinewhether to affirm or lower the ratings," S&P stated.

Sadler, Gibb and Associates, LLC, in Salt Lake City, Utah,expressed substantial doubt about Sunvalley Solar's ability tocontinue as a going concern. The independent auditors noted thatthe Company had losses from operations of $375,839 and accumulateddeficit of $958,924.

The Company reported a net loss of $375,839 on $4.6 million ofrevenues for 2010, compared with a net loss of $587,859 on$4.4 million of revenues for 2009.

At Dec. 31, 2010, the Company's balance sheet showed $3.2 millionin total assets, $3.1 million in total liabilities, andstockholders' equity of $117,857.

Walnut, California-based Sunvalley Solar, Inc., is focused ondeveloping its expertise and proprietary technology to installresidential, commercial and governmental solar power systems. TheCompany's customers range from small private residences to largecommercial solar power users.

SYRACUSE SYMPHONY: To File For Chapter 7 Bankruptcy Protection--------------------------------------------------------------Melinda Johnson at the Post-Standard, in Syracuse, New York,reports that Syracuse Symphony's board of trustees will fileChapter 7 bankruptcy, likely next week.

According to the report, interim Executive Director Paul Brooksmade the announcement after a 2-1/2 hour SSO board meeting.Mr. Brooks said the board realized it couldn't support a 77-person, $7 million orchestra on a $5 million budget. Thestatement also pointed out if another symphony organization shouldbe organized in the future, it would not be saddled with the SSO's$5.5 million debt, a $2.5 million unfunded pension liability or "aunion contract that restricts its ability to configure itself tofit the times."

Mr. Brooks said the board decided to file for Chapter 7 bankruptcybecause of the SSO's outstanding pension liability. Chapter 7enables the Pension Benefit Guaranty Corp. to step in and takeover responsibility for the pension, ensuring the musicians'pension remains whole and intact. The SSO's $5.5 million debtincludes major unfunded pension liability, outstanding accountspayable, bank debt and unfulfilled susbscriptions.

TIMOTHY BLIXSETH: Yellowstone Founder Faces Forced Bankruptcy-------------------------------------------------------------Tax officials from California, Montana and Idaho on April 5, 2011filed an involuntary-bankruptcy petition under Chapter 7 againstTimothy Blixseth in Las Vegas, Nevada (Bankr. D. Nev. Case No. 11-15010). The three states that signed the petition against theYellowstone Club co-founder claim they are owed $2.3 million inback taxes. A copy of the petition is available for free at:http://bankrupt.com/misc/nvb11-15010.pdf

According to reporting by Bloomberg News, Tim Blixseth admits thathe owes $1.3 million to Idaho and California, which he will pay,but denies owning any taxes to Montana. "It's bogus,"Mr. Blixseth said in an interview, referring to Montana's claimfor $219,000. "I've never ever seen the claim until yesterday."

Steven Church and Anthony Effinger at Bloomberg News report thatMr. Blixseth claimed the allegations in Montana are a personalattack on him by Governor Brian D. Schweitzer.

He said he is waiting for tax information from his ex-wife, whotook possession of the Yellowstone Club after their divorce. Thecouple owned it together until 2008, and Tim Blixseth is entitledto write off some of the losses on his taxes for that year, hesaid.

Mr. Blixseth and his former wife, Edra Blixseth, founded theYellowstone Club, near Big Sky, Montana, in 2000 as a ski resortfor millionaires looking for vacation homes. Members paid $205million for 72 properties in 2005 alone.

Bloomberg News relates that according to a court ruling by U.S.Bankruptcy Judge Ralph B. Kirscher, the couple took cash for theirpersonal use from a $375 million loan arranged by Credit Suisse inthat year. Finances at the club deteriorated thereafter, and theclub eventually went bankrupt, Judge Kirscher found. He wasordered to pay $40 million to the club's creditors under aSeptember ruling by Kirscher. Mr. Blixseth said he's appealingthat judgment.

About Yellowstone Mountain

Located near Big Sky, Montana, Yellowstone Mountain Club LLC --http://www.theyellowstoneclub.com/-- is a private golf and ski community with more than 350 members, including Bill Gates and DanQuayle. The Company was founded in 1999.

In June 2009, the Bankruptcy Court entered an order confirmingYellowstone's Chapter 11 Plan. Pursuant to the Plan, CrossHarborCapital Partners, LLC, acquired equity ownership in thereorganized Club for $115 million.

Attorneys at Bullivant Houser Bailey PC and Bekkedahl & GreenPLLC represented the Debtors. The Debtors hired FTI ConsultingInc. and Ronald Greenspan as CRO. The official committee ofunsecured creditors were represented by Parsons, Behle andLatimer, as counsel, and James H. Cossitt, Esq., at local counsel.Credit Suisse, the prepetition first lien lender, was representedby Skadden, Arps, Slate, Meagher & Flom.

TONGJI HEALTHCARE: Delays Filing of 2010 Annual Report------------------------------------------------------Tongji Healthcare Group, Inc., informed the U.S. Securities andExchange Commission that it has encountered a delay in assemblingthe information, in particular its financial statements for thefiscal year ended Dec. 31, 2010, required to be included in itsDec. 31, 2010 Form 10-K Annual Report. The Company expects tofile its Dec. 31, 2010 Form 10-K Annual Report with the SEC within15 calendar days of the prescribed due date.

About Tongji Healthcare

Based in Nanning, Guangxi, the People's Republic of China, TongjiHealthcare Group, Inc., was incorporated in the State of Nevada onDecember 19, 2006. The Company operates Tongji Hospital,a general hospital with 105 licensed beds.

As reported in the Troubled Company Reporter on April 22, 2010,Kabani & Company, Inc., in Los Angeles, expressed substantialdoubt about the Company's ability to continue as a going concern,following its 2009 results. The independent auditors noted thatof the Company's significant operating losses and insufficientcapital.

The Company's balance sheet as of June 30, 2010, showedUS$5.9 million in total assets, US$6.0 million in totalliabilities, and a stockholders' deficit of US$109,296.

TOPS HOLDING: Incurs $26.95 Million Net Loss in 2010----------------------------------------------------Tops Holding Corporation filed with the U.S. Securities andExchange Commission its annual report on Form 10-K reporting a netloss of $26.95 million on $2.25 billion of net sales for thefiscal year ended Jan. 1, 2011, compared with a net loss of $25.69million on $1.69 billion of net sales during the prior year.

The Company also reported a net loss of $13.77 million on $530.83million of net sales for the fourth quarter of 2010, compared witha net loss of $24.29 million on $424.44 million of net sales forthe fourth quarter of 2009.

The Company's balance sheet at Jan. 1, 2011 showed $680.35 millionin total assets, $745.86 million in total liabilities and $65.51million in total shareholders' deficit.

Frank Curci, Tops' President and CEO, commented, "This was atransformational year for Tops, as we expanded our geographicreach, substantially grew our business, and strengthened ourfranchise with the acquisition of Penn Traffic. Our new customershave enthusiastically welcomed us into their communities, andthanks to our hard-working and talented employees, we havesuccessfully integrated all of the acquired supermarkets. Withthe integration now complete, we will focus on growth from theleveraging of our increased footprint."

Privately owned Tops Markets, LLC headquartered in Williamsville,New York, operates a chain of 71 owned Tops supermarkets and 5franchised stores ("legacy stores") in western New York state,with approximately $1.7 billion of annual revenues. In February2010, Tops acquired 79 stores from the bankruptcy estate of PennTraffic. Tops continues to operate 55 stores, of which 7 may soldor closed as a result of a preliminary FTC order. The remaining48 stores are in the final process of being re-branded as Topsstores. Tops' primary markets have historically been the Buffaloand Rochester metro areas, and will expand to the south and eastwith the acquisition of the Syracuse-based Penn Traffic stores.The company is 75% owned by Morgan Stanley Capital Partners, withremaining ownership held largely by a unit of HSBC and companymanagement.

* * *

According to the Troubled Company Reporter on Nov. 10, 2010,Moody's Investors Service downgraded the Corporate Family andProbability of Default Ratings of Tops Holding Corp. to Caa1 fromB3, and downgraded the rating of its $350 million of secured bondsto Caa1 from B3. The rating outlook is stable. This concludedthe review for possible downgrade started on August 10, 2010.

TRANS ENERGY: Delays Filing of 2010 Annual Report-------------------------------------------------Trans Energy, Inc., said it has not received and completed certainreports from its consultants that are necessary to complete thefinancial statements. This information is required for thecertifying auditors to finalize their report for the auditedfinancial statements for the year ended Dec. 31, 2010.Accordingly the Company is unable to complete and file its Form10-K annual report by the due date, but expects the audit will becompleted and Form 10-K finalized in order to file the reportwithin the prescribed extension period.

About Trans Energy

West Virginia-based Trans Energy, Inc. --http://www.transenergyinc.com/-- is an independent exploration and production company focused on exploring, developing andproducing oil and natural gas in the Appalachian Basin. Thecommon shares of the Company are listed for trading on the OverThe Counter Bulletin Board under the symbol "TENG".

The Company's balance sheet at Sept. 30, 2010, showed$40.04 million in total assets, $19.65 million in totalliabilities, and a stockholders' deficit of $20.39 million.

According to the Troubled Company Reporter on Nov. 9, 2010, TransEnergy, Inc., and CIT Capital USA Inc. entered into a forbearanceletter agreement on Oct. 29, 2010, whereby CIT agreed toforebear from exercising its rights and remedies against theCompany and its property until Dec. 31, 2010. The forbearancerelates to a senior secured revolving credit facility. TheOctober Forbearance Letter extends the terms and provisions of theparties' earlier forbearance agreement entered into on July 9,2010, that extended the forbearance period to Oct. 29, 2010.

TRANS-LUX CORPORATION: Incurs $7.03 Million Net Loss in 2010------------------------------------------------------------Trans-Lux Corporation filed with the U.S. Securities and ExchangeCommission its annual report on Form 10-K reporting a net loss of$7.03 million on $24.30 million of total revenues for the yearended Dec. 31, 2010, compared with a net loss of $8.79 million on$28.54 million of total revenues during the prior year.

The Company's balance sheet at Dec. 31, 2010 showed $33.44 millionin total assets, $33.41 million in total liabilities and $30,000in total stockholders' equity.

UHY LLP, in Hartford, Connecticut, expressed substantial doubtabout the Company's ability to continue as a going concern. Theindependent auditors noted that the Company has incurredsignificant recurring losses from continuing operations and has asignificant working capital deficiency. In 2009, the Company hada loss from continuing operations of $8.8 million and has aworking capital deficiency of $16.0 million as of Dec. 31, 2009.Furthermore, the Company is in default of the indentureagreements governing its outstanding 9 1/2% Subordinateddebentures and its 8 1/4% Limited convertible senior subordinatednotes so that the trustees or holders of 25% of the outstandingDebentures and Notes have the right to demand payment immediately.

A full-text copy of the annual report on Form 10-K is availablefor free at:

TRIBUNE CO: Judge Carey Delays Plan Hearing to April 12-------------------------------------------------------Judge Kevin J. Carey of the U.S. Bankruptcy Court for theDistrict of Delaware delayed the hearing to consider confirmationof the competing Chapter 11 plans of reorganization for TribuneCompany and its debtor affiliates to April 12, 2011, to giveparties more time to mediate and work on a settlement, StevenChurch of Bloomberg News reported.

During a telephone hearing held on April 5, Judge Carey said thedelay of the confirmation hearing was requested by Judge KevinGross who is overseeing the mediation between (i) the Debtors;the Official Committee of Unsecured Creditors; Oaktree CapitalManagement, L.P.; Angelo, Gordon & Co., L.P. and JP Morgan ChaseBank, N.A. and (ii) Aurelius Capital Management, LP, on behalf ofits managed entities; Deutsche Bank Trust Company Americas, inits capacity as successor Indenture Trustee for certain series ofSenior Notes; Law Debenture Trust Company of New York, in itscapacity as successor Indenture Trustee for certain series ofSenior Notes; and Wilmington Trust Company, in its capacity assuccessor Indenture Trustee for the PHONES Notes.

"Judge Gross indicated to me . . . he thought it would be usefulfor him to be able to have parties available to him," Bloombergquoted Judge Carey as saying.

Judge Carey, however, warned that he may find it impossible toapprove either of the rival Chapter 11 plans, a separate reportby Michael O'Neal of Chicago Tribune disclosed.

Chicago Tribune observed that given Judge Kevin Gross's failedattempts to broker a settlement among the parties, the "odds ofsuccess seem long."

The Debtors filed a modified Second Amended Joint Plan ofReorganization on April 5, 2011, maintaining a $6.75 billiontotal distributable enterprise value of the Debtors. TheNoteholders' Second Amended Joint Plan of Reorganization datedMarch 28, 2011, assumes that an $8 billion total distributablevalue, between 73.9% and 81.12% of the equity value ofReorganized Debtors will be distributed to creditors.

TRICO MARINE: Unit Exchange, Prepack Voting Extended to April 18----------------------------------------------------------------Trico Shipping AS, a subsidiary of Trico Marine Services, Inc.,announced on April 6, 2011, that it has extended the expirationdate of its out-of-court exchange offer to the holders of its 117/8% senior secured notes due 2014 and the solicitation ofconsents to the governing indenture to 5:00 p.m. Eastern Time onApril 7, 2011. Withdrawal rights under the Exchange Offer willnot be extended by the new expiration date. The Company hasextended the deadline for submitting ballots to accept or rejectthe prepackaged plan of reorganization to 5:00 p.m. Eastern Timeon April 18, 2011. The Exchange Offer, Consent Solicitation andsolicitation of acceptances of the Prepackaged Plan are otherwiseunchanged.

The Exchange Offer, Consent Solicitation and solicitation ofacceptances of the Prepackaged Plan were scheduled to expire at5:00 p.m. Eastern Time on April 5, 2011. At 5:00 p.m. Eastern Timeon April 5, 2011, $396,454,000 principal amount of Notesrepresenting approximately 99.11% of the outstanding principalamount of the Notes had been validly tendered and not withdrawn inthe Exchange Offer. The Companyis extending the expiration date ofthe Exchange Offer in order to permit the progression ofnegotiations with other creditors, whose agreement is a conditionto the Exchange Offer.

The Exchange Offer is being made, and the New Common Stock isbeing offered and issued within the United States only to"qualified institutional buyers" as defined in Rule 144A under theSecurities Act of 1933, as amended or institutional "accreditedinvestors," as defined in Rule 501 under the Securities Act, andoutside the United States to non-U.S. investors. The New CommonStock to be offered has not been registered under the SecuritiesAct and may not be offered or sold in the United States absentregistration or an applicable exemption from registrationrequirements.

As reported in the March 30, 2011, edition of the Troubled CompanyReporter, JPMCC 2007-C1 Grasslawn Lodging, LLC -- the seniorlender of Transwest Resort and its affiliates -- filed a notice oftwo debtors' default under the bankruptcy court's second interimorder authorizing their use of JPMCC's cash collateral and theresulting termination of those debtors' right to use JPMCC's cashcollateral. The two debtors, Transwest Tucson, LLC and TranswestHilton Head, LLC, are the owners of two resorts -- the Westin LaPaloma Resort and Country Club in Tucson, Arizona and the WestinHilton Head Resort and Spa in Hilton Head, South Carolina. JPMCCsaid the Debtors violated the cash collateral order by"unilaterally reducing" a required March 23 adequate protectionpayment by $600,000. JPMCC asked for the immediate appointment ofa Chapter 11 trustee.

The Debtors, according to the March 30 report, on the other handare asking the Court to enter a new emergency interim cashcollateral order allowing them to use the lender's cash collateralfor four weeks pursuant to a proposed emergency budget. TheDebtors admit that they failed to make the full March 23 adequateprotection payment, but argue that the cash collateral dispute isthe result of "the belligerent and irresponsible conduct ofcreditor JPMCC 2007-C1 Grasslawn Lodging, LLC, in response to theDebtors using prudent and cautious business judgment in order topreserve the going concern value of their estates." The Debtorssaid they were willing to "work on responsible solutions thatwould allow for additional adequate protection payments but thatalso protect the Resorts' operations," but the lender "declined toengage in any discussion regarding practical solutions to theanticipated cash flow problems at La Paloma" unless and until thefull adequate protection payment was made.

According to Mr. Rochelle, Judge Hollowell at the March 30 hearingruled that the cash collateral order was ambiguous with regard towhether there was flexibility as to the amount payable each month.She directed the parties to hold a hearing with witnesses onMay 13.

UNILAVA CORPORATION: Delays Filing of 2010 Annual Report--------------------------------------------------------Unilava Corporation notified the U.S. Securities and ExchangeCommission that it is unable to file its Form 10-K within theprescribed time period without unreasonable effort or expense dueto the fact that it has not completed the process of preparing andintegrating its operating and financial information intostatements for the fiscal year ended Dec. 31, 2010. The Companyanticipates that it will file its Form 10-K no later than thefifteenth calendar day following the prescribed due date, aspermitted by Exchange Act Rule 12b-25.

About Unilava Corporation

Unilava Corporation (OTC BB: UNLA)-- http://www.unilava.com/-- is a diversified communications holding company incorporated underthe laws of the State of Wyoming in 2009. Unilava Corporation andits subsidiary brands provide a variety of communicationsservices, products, and equipment that address the needs ofcorporations, small businesses and consumers. The Company islicensed to provide long distance services in 41 states throughoutthe U.S. and local phone services across 11 states. Through itscarrier-grade microwave wireless broadband infrastructure andbroadband Internet access partners, the Company also offers mobileand high-definition IP-hosted voice services to residentialcustomers and corporate clients. Additionally, Unilava Corp.delivers a comprehensive and integrated suite of fee-based onlineand mobile advertising and web services to a broad array ofbusiness enterprises. Headquartered in San Francisco, the Companyhas regional offices in Chicago, Seoul, Hong Kong, and Beijing.

The Company's balance sheet at Sept. 30, 2010, showed$4.65 million in total assets, $5.42 million in total liabilities,and a stockholders' deficit of $776,747.

As reported by the TCR on Nov. 25, 2010, De Joya Griffith &Company, LLC, in Henderson, Nev., expressed substantial doubtabout the Company's ability to continue as a going concern,following its 2009 results. The independent auditors noted thatthe Company has suffered losses from operations.

UNIVERSAL BIOENERGY: Delays Filing of 2010 Annual Report--------------------------------------------------------Universal Bioenergy, Inc., informed the U.S. Securities andExchange Commission that it has been unable to complete its Form10-K for the year ended Dec. 31, 2010, within the prescribed timebecause of delays in completing the preparation of its financialstatements and its management discussion and analysis. Thosedelays are primarily due to Company's management's dedication ofsuch management's time to business matters. This has taken asignificant amount of management's time away from the preparationof the Form 10-K and delayed the preparation of the auditedfinancial statements for the year ended Dec. 31, 2010.

About Universal Bioenergy

Universal Bioenergy Inc., is an alternative energy companyheadquartered in Irvine, California. The Company's new strategicdirection is to develop and market a diverse product line ofalternative and natural energy products including, natural gas,solar, biofuels, wind, wave, tidal, and green technology products.

The Company's balance sheet at Sept. 30, 2010, showed$3.00 million in total assets, $3.35 million in total liabilities,and a $353,406 stockholders' deficit.

As reported by the TCR on Nov. 26, 2010, S.E.Clark & Company,P.C., in Tucson, Arizona, expressed substantial doubt about theCompany's ability to continue as a going concern, following its2009 results. The independent auditors noted that the Company hasnet losses for the period from inception (August 13, 2004) to Dec.31, 2009, of $14.8 million. Further, the Company has inadequateworking capital to maintain or develop its operations, and isdependent upon funds from private investors and the support ofcertain stockholders.

UPSTREAM WORLDWIDE: Berman & Company Raises Going Concern Doubt---------------------------------------------------------------Upstream Worldwide, Inc., filed on March 31, 2011, its annualreport on Form 10-K for the fiscal year ended Dec. 31, 2010.

Berman & Company, P.A., in Boca Raton, Florida, expressedsubstantial doubt about Upstream Worldwide's ability to continueas a going concern. The independent auditors noted that theCompany has a net loss of $16,791,253 and net cash used inoperations of $3,161,683 for the year ended Dec. 31, 2010; and hasa working capital deficit of $2,070,274, and a stockholders'deficit of $1,396,109 at Dec. 31, 2010.

The Company reported a net loss of $16.8 million on $32.5 millionof revenue for 2010, compared with a net loss of $4.1 million on$29.0 million for 2009.

At Dec. 31, 2010, the Company's balance sheet showed $2.1 millionin total assets, $3.5 million in total liabilities, all current,and a stockholders' deficit of $1.4 million.

Ft. Lauderdale, Fla.-based Upstream Worldwide, Inc., formerly,Money4Gold Holdings, Inc. -- http://www.money4gold.com/-- is an emerging leader in direct-from-consumer, reverse logistics,currently specializing in the procurement and aggregation ofcellular phones and precious metals to be recycled. From theinception of the Company's current business in 2008 through 2010,substantially all of the Company's revenue came from the preciousmetals business. In mid-2010, the Company began to diversify itsbusiness by introducing a service, similar to its precious metalsbusiness, for cellular phones as it saw the gold and silverbusiness begin to sharply retract.

VERENIUM CORP: Simon Rich Resigns as Board Member-------------------------------------------------Simon Rich notified Verenium Corporation that he was resigning asa member of the Company's Board of Directors. Mr. Rich'sresignation does not involve any disagreement with the Company,its management or the Board.

About Verenium Corporation

Cambridge, Mass.-based Verenium Corporation (NASDAQ: VRNM) --http://www.verenium.com/-- is a pioneer in the development and commercialization of high-performance enzymes for use inindustrial processes. Verenium currently sells enzymes developedusing its R&D capabilities to industrial customers globally foruse in markets including biofuels, animal health and oil seedprocessing.

The Company reported a net loss of $5.35 million on $52.07 millionof total revenue for the year ended Dec. 31, 2010, compared with anet loss of $56.24 million on $48.82 million of total revenueduring the prior year.

As reported in the Troubled Company Reporter on March 19, 2010,Ernst & Young LLP, in San Diego, Calif., expressed substantialdoubt about the Company's ability to continue as a going concern.The independent auditors noted that of the Company's recurringoperating losses and accumulated deficit of $630.0 million atDec. 31, 2009.

VERINT SYSTEMS: S&P Assigns 'B+' Rating on First Lien Revolver--------------------------------------------------------------Standard & Poor's Ratings Services said it assigned its 'B+'issue-level ratings to Verint Systems Inc.'s proposed up to$200 million first-lien revolver due 2016 and $580 million first-lien term loan due 2017. The proposed facility would refinancethe current amount outstanding under the existing term loan, andincrease the amount of the revolver availability by $125 millionfrom the current $75 million limit, to position itself to takeadvantage of potential future, opportunistic acquisitions. Thenew ratings are the same as the 'B+' corporate credit rating onthe company.

"We also assigned a '3' recovery rating to these facilities,indicating our expectation of meaningful (50%-70%) recovery forlenders in the event of a payment default. Our estimated recoveryis at the very high end of this 50%-70% range," S&P stated.

"We view this transaction as credit neutral and so the 'B+'corporate credit rating and the stable outlook on Verint remainunchanged. Verint's ratings reflect its weak business riskprofile that incorporates its limited operational scale, thehighly competitive nature of the software industry, its relianceon specialized product offerings, and an aggressive financialprofile. Favorable market growth, particularly through therecession, a predictable and growing revenue base stemming fromhigh renewal rates, and a diversified portfolio of products andservices partially offset those factors," S&P related.

"The ratings on WFT reflect our view of the company's position asa leading North American lumber producer, its low-cost lumberoperations, a high degree of fiber integration, good productdiversity, and low leverage. These strengths are somewhat offset,in our opinion, by the company's participation in the cyclicalhousing construction and volatile pulp markets," S&P noted.

WFT is an integrated wood products company with operations inwestern Canada and the southern U.S. Although its core business islumber production, it also produces panels, pulp, and newsprint.The company has an annual production capacity of 5.5 billion boardfeet of lumber and 1.15 million metric tons of pulp capacity, andalso produces panels and newsprint.

"The positive outlook reflects our expectations that WFTwill continue to generate good cash flows in the next two yearsas demand and lumber pricing improves given our expectations ofgradual improvement in the U.S. housing construction market.Although spending for capital investments is likely to increasemeaningfully for 2011 and 2012, WFT has accumulated excess cashthat, combined with internal cash flow generation, could fundthe required capital expenditure. An upgrade would requireimprovement in the business risk profile, which could either beas a result of improvement in U.S. housing starts or if WFTcontinues to generate good profitability as expected despite lowhousing starts and is able to maintain leverage of below 1.5x.We could lower the ratings on WFT if lumber and pulp pricesdecline sharply resulting in annualized EBITDA of aboutC$150 million, which translates in to a leverage ration of about3.0x based on current adjusted debt levels," S&P stated.

W.R. GRACE: To Release 1st Quarter Results on April 26------------------------------------------------------W. R. Grace & Co. (NYSE:GRA) announced that it will release itsfirst quarter 2011 financial results at 6:00 a.m. ET on Tuesday,April 26. A company hosted conference call and webcast willfollow at 11:00 a.m. ET that day.

During the call, Fred Festa, Chairman, President and ChiefExecutive Officer, and Hudson La Force, Senior Vice President andChief Financial Officer, will discuss the first quarter results.A question and answer session will follow the prepared remarks.

Access to the live webcast and the accompanying slides will beavailable through the Investor Information - InvestorPresentations section of the company's Web site,http://www.grace.com. Those without access to the Internet can participate by dialing 1.866.700.5192 (US) or +1.617.213.8833(International). The conference call ID is 11358087. Investorsare advised to dial into the call at least ten minutes early inorder to register.

An audio replay will be available at 2:00 p.m. ET on April 26.The replay will be accessible by dialing 1.888.286.8010 (US) or+1.617.801.6888 (International) and entering conference call ID59597526.

W.R. Grace and its debtor affiliates, with the support of theOfficial Committee of Asbestos Personal Injury Claimants, theAsbestos PI Future Claimants' Representative and the OfficialCommittee of Equity Security Holders, have submitted a proposedChapter 11 plan of reorganization. The Chapter 11 plan is builtaround an April 2008 settlement for all present and futureasbestos personal injury claims, and a subsequent settlement forasbestos property damage claims. The Plan confirmation hearingwrapped up on Jan. 25.

W.R. GRACE: Wins OK to Contribute $236-Mil. to Pension Plan-----------------------------------------------------------Judge Judith Fitzgerald of the U.S. Bankruptcy Court for theDistrict of Delaware granted in its entirety the request by W.R.Grace & Co. and its debtor affiliates for authority to contributeup to $236 million to their U.S. defined benefit employeeretirement plans. Accordingly, the Court authorized, but notrequired, the Debtors to make a series of contributions in 2011 tothe Grace Retirement Plans totaling approximately $236 million.The Debtors said no party objected to their request.

The 2011 Contribution is comprised of:

1. A $55.8 million minimum pension contribution, in addition to the $9.9 million the Debtors already paid in January 2011; and

2. An additional contribution of up to $180 million.

The Debtors have concluded that, under all likely scenarios, theywill be required by statute to contribute to their RetirementPlans an amount equal to the $180 million Additional Contributionplus the contributions during the 2011-17 time period. Inconsultation with their advisors, the Debtors have furtherconcluded that they will accrue a number of tangible benefits,including up to approximately $82.4 million in cash savings, ifthey make the Additional Contribution to the Plan Trust now, in2011, instead of making those payments piecemeal from now through2017.

In particular, the Additional Contribution will:

* Generate cash tax savings in 2011 of up to approximately $56 million;

* Reduce over the 2011-17 time period estimated cash pension contributions by approximately $26.4 million, and reduce projected pension expenses by a similar amount;

* Generate an internal rate of return of up to 21% based on the foregoing cash savings of up to approximately $82.4 million;

* Reduce unfunded pension liabilities by more than 60% in 2011, from approximately $367 million to $133 million;

* Create a "pre-funding credit" that will enable the Debtors to better manage their annual free cash flow during the critical years directly following emergence from bankruptcy.

The Additional Contribution will further optimize the ReorganizedDebtors' capital structure at exit and in the years following byexchanging highly volatile and uncertain unfunded pension benefitobligations for a fixed amount of debt at a contractual interestrate, Adam Paul, Esq., at Kirkland & Ellis LLP, in Chicago,Illinois, tells the Court. The need to act now to optimize thecapital structure has gained fresh urgency with the Court's recententry of the confirmation order on Jan. 31, 2011, he asserts.

The Additional Contribution may require the Debtors to increasethe anticipated size of their exit financing needs, but theDebtors, in consultation with their advisors, have concluded thatthey have more than ample liquidity and debt capacity to pay allallowed claims contemplated by the Chapter 11 Plan, regardless ofwhether their exit financing needs increase as a result of havingmade the Additional Contribution, Mr. Paul asserts.

The Debtors intend to frontload the 2011 Contribution by making,on or before March 31, 2011, the entire Additional Contributionplus the statutory minimum contribution of approximately$13 million, which must be paid in April 2011, for a total of$193 million. The Debtors intend to contribute the remainingbalance of the 2011 Contribution on these dates:

July 2011 $13.2 million September 2011 $16.3 million October 2011 $13.2 million

W.R. Grace and its debtor affiliates, with the support of theOfficial Committee of Asbestos Personal Injury Claimants, theAsbestos PI Future Claimants' Representative and the OfficialCommittee of Equity Security Holders, have submitted a proposedChapter 11 plan of reorganization. The Chapter 11 plan is builtaround an April 2008 settlement for all present and futureasbestos personal injury claims, and a subsequent settlement forasbestos property damage claims. The Plan confirmation hearingwrapped up on Jan. 25.

* centralize, simplify, and increase the cost effectiveness and tax efficiencies of the financing, cash management and other activities of certain of the Debtors' non-debtor foreign subsidiaries;

* preserve foreign tax credits and maximize the availability of the net operating losses expected to result from payment of claims under the Plan; and

* optimize the corporate structure of the Debtors' non-debtor foreign subsidiaries, which will streamline the Debtors' proposed exit financing.

Mr. Paul adds that the Netherlands is a highly favorablejurisdiction in which to establish the Netherlands HoldCoStructure. The Netherlands: (i) has an extensive and favorabletax treaty network, which allows for efficient capital transfers;(ii) does not impose currency exchange restrictions; and (iii)provides an attractive legal infrastructure in which to operatesophisticated business enterprises, including business-friendlycivil and commercial law and a favorable corporate tax regime, hepoints out.

Moreover, Mr. Paul says, any subsidiaries of the Non-debtor HoldCoSubsidiaries will become indirect subsidiaries of NetherlandsHoldCo. No Non-debtor HoldCo Subsidiary, nor any portion of theequity thereof nor any assets held by any Non-debtor HoldCoSubsidiary, will be transferred outside the Grace corporate groupas a result of the transactions contemplated by the creation ofthe Netherlands HoldCo Structure, he tells the Court. To theextent that another Debtor holds a minority interest in a Non-Debtor Netherlands HoldCo Subsidiary, that Debtor either mayretain any interest or transfer that interest to NetherlandsHoldCo.

The Debtors believe that the proposed transfers will involveacceptable tax and other costs. To the extent that theydetermine subsequent to the Court's entry of the Order that anyproposed transfer would incur unexpectedly high tax and othercosts or present some other legal or operational issue requiringresolution, the Debtors in their business judgment may either:(a) revise the proposed transactions to avoid or minimize anycosts or to resolve any other legal or operational issue; or(b) not undertake the contemplated transaction.

W.R. Grace and its debtor affiliates, with the support of theOfficial Committee of Asbestos Personal Injury Claimants, theAsbestos PI Future Claimants' Representative and the OfficialCommittee of Equity Security Holders, have submitted a proposedChapter 11 plan of reorganization. The Chapter 11 plan is builtaround an April 2008 settlement for all present and futureasbestos personal injury claims, and a subsequent settlement forasbestos property damage claims. The Plan confirmation hearingwrapped up on Jan. 25.

YELLOWSTONE MOUNTAIN: Co-Founder Faces Forced Ch. 7 Bankruptcy--------------------------------------------------------------Tax officials from California, Montana and Idaho on April 5, 2011filed an involuntary-bankruptcy petition under Chapter 7 againstTimothy Blixseth in Las Vegas, Nevada (Bankr. D. Nev. Case No. 11-15010). The three states that signed the petition against theYellowstone Club co-founder claim they are owed $2.3 million inback taxes. A copy of the petition is available for free at:http://bankrupt.com/misc/nvb11-15010.pdf

According to reporting by Bloomberg News, Tim Blixseth admits thathe owes $1.3 million to Idaho and California, which he will pay,but denies owning any taxes to Montana. "It's bogus,"Mr. Blixseth said in an interview, referring to Montana's claimfor $219,000. "I've never ever seen the claim until yesterday."

Steven Church and Anthony Effinger at Bloomberg News report thatMr. Blixseth claimed the allegations in Montana are a personalattack on him by Governor Brian D. Schweitzer.

He said he is waiting for tax information from his ex-wife, whotook possession of the Yellowstone Club after their divorce. Thecouple owned it together until 2008, and Tim Blixseth is entitledto write off some of the losses on his taxes for that year, hesaid.

Mr. Blixseth and his former wife, Edra Blixseth, founded theYellowstone Club, near Big Sky, Montana, in 2000 as a ski resortfor millionaires looking for vacation homes. Members paid $205million for 72 properties in 2005 alone.

Bloomberg News relates that according to a court ruling by U.S.Bankruptcy Judge Ralph B. Kirscher, the couple took cash for theirpersonal use from a $375 million loan arranged by Credit Suisse inthat year. Finances at the club deteriorated thereafter, and theclub eventually went bankrupt, Judge Kirscher found. He wasordered to pay $40 million to the club's creditors under aSeptember ruling by Kirscher. Mr. Blixseth said he's appealingthat judgment.

About Yellowstone Mountain

Located near Big Sky, Montana, Yellowstone Mountain Club LLC --http://www.theyellowstoneclub.com/-- is a private golf and ski community with more than 350 members, including Bill Gates and DanQuayle. The Company was founded in 1999.

In June 2009, the Bankruptcy Court entered an order confirmingYellowstone's Chapter 11 Plan. Pursuant to the Plan, CrossHarborCapital Partners, LLC, acquired equity ownership in thereorganized Club for $115 million.

Attorneys at Bullivant Houser Bailey PC and Bekkedahl & GreenPLLC represented the Debtors. The Debtors hired FTI ConsultingInc. and Ronald Greenspan as CRO. The official committee ofunsecured creditors were represented by Parsons, Behle andLatimer, as counsel, and James H. Cossitt, Esq., at local counsel.Credit Suisse, the prepetition first lien lender, was representedby Skadden, Arps, Slate, Meagher & Flom.

Law360 says the petition, in the U.S. Bankruptcy Court for theDistrict of New Jersey, said the claims are based upon principalonly and don't include interest and other costs.

* Late Appeal Filing Is Jurisdictional, Third Circuit Holds-----------------------------------------------------------The U.S. Court of Appeals in Philadelphia ruled in a bankruptcycase handed down April 4 that the failure to file a notice ofappeal on time is "mandatory and jurisdictional." The caseinvolved an individual who filed a notice of appeal -- three daysafter the 10-day window prescribed in FRBP Rule 8002 -- from abankruptcy court order dismissing his Chapter 11 case. The ThirdCircuit in Philadelphia determined that the failure to file thenotice of appeal on time deprives an appellate court ofjurisdiction. Consequently, the appellate court could notconsider the bankrupt's argument that the failure to file on timecould be overlooked under the doctrine of "excusable neglect."The case is In re Caterbone, 07-2151, 3rd U.S. Circuit Court ofAppeals (Philadelphia).

* What Happens to Courts if the Federal Government Closes?----------------------------------------------------------If Congress is unable to agree on the continued funding ofgovernment before April 8, the Judicial Branch of the U.S.Government is prepared to use non-appropriated fees to keep thecourts running for up to two weeks.

Once that funding is exhausted, however, the federal court systemfaces serious disruptions. Following their own contingency plans,federal courts would limit operation to essential activities.

For the federal courts, this would mean limiting activities tothose functions necessary and essential to continue the resolutionof cases. All other personnel services not related to performanceof Article III functions would be suspended.

The jury system would operate as necessary, although payments tojurors would be deferred. Attorneys and essential support staffin federal defender offices and court-appointed counsel wouldcontinue to provide defense services as needed, but again,payments would be deferred. Courts would determine the number ofprobation office staff needed to maintain service to the courtsand the safety of the community.

* Small Firms Survive But Face Challenges in Obtaining Loans------------------------------------------------------------Small businesses that have previously filed for bankruptcy are nomore burdened than other small firms by poor cash flow, highhealth insurance costs, or excessive taxes, and they attainsimilar firm sizes, according to a study released on April 6,2011, by the U.S. Small Business Administration's Office ofAdvocacy. However, they have about a 24 percent higher likelihoodof being denied a loan and are charged interest rates at least 1percent higher than other firms. The report finds that firmsowned by African and Latino Americans are even more likely to bedenied loans and charged higher interest rates.

"Small businesses filing for bankruptcy have an opportunity for anew start. This new start is hampered by the challenges ofobtaining new loans. This can impede innovation and jobcreation," said Chief Counsel for Advocacy Winslow Sargeant.

The study, Beyond Bankruptcy: Does the Bankruptcy Code Provide AFresh Start to Entrepreneurs? by Aparna Mathur, finds that ownersof 2.6 percent of firms have filed for bankruptcy at some point inthe previous seven years. Credit rationing of previously bankruptfirms leads to a class of discouraged borrowers who aresignificantly less likely even to apply for a loan, according tothe study.

The research relies on data from the National Survey of SmallBusiness Finances as a basis for the analysis. Surveys wereconducted by the Federal Reserve Board in 1993, 1998, and 2003.The full study is available online at www.sba.gov/advocacy.

The Office of Advocacy of the U.S. Small Business Administration(SBA) is an independent voice for small business within thefederal government. The presidentially appointed Chief Counsel forAdvocacy advances the views, concerns, and interests of smallbusiness before Congress, the White House, federal agencies,federal courts, and state policymakers. For more information,visit www.sba.gov/advo, or call (202) 205-6533.

* Liquidity-Stress Index for Junk Companies Improves----------------------------------------------------The forgiving debt markets are improving liquidity for junk-ratedcompanies, according to an April 1 report from Moody's InvestorsService, Bill Rochelle, the bankruptcy columnist for BloombergNews, said. Junk-rated companies with the weakest liquidityratings shrank to 4.4% in March from 4.7% the month before,Moody's reported. The liquidity-stress index is the lowest sinceJune 2005, according to Moody's.

* Kamakura Troubled Company Index Declined to 5.47% in March------------------------------------------------------------Kamakura Corporation reported Tuesday that the Kamakura index oftroubled public companies fell in March. The index set an all-time low of 4.36% on Dec. 17, 2010, but has shown quite a bit ofvolatility over the past month hitting an intra-month high of7.28% on March 16, but then falling throughout the month. Theintra-month spike was caused by the earthquake, tsunami andsubsequent Fukushima nuclear power plant crisis. These samedisaster-related effects made TEPCO the firm with the world'shighest one-month default risk among rated companies.

The Kamakura troubled company index measures the percentage of29,400 public firms in 37 countries that have annualized 1 monthdefault risk over one percent. Beginning with the November 2010index value, the Kamakura troubled company index is now based onthe version 5.0 default models from Kamakura Risk InformationServices. Previously, the index was reported using the KRISversion 4.1 models. The version 5 models were estimated over theperiod from January 1990 to December 2008 and therefore capturethe key events of the credit crisis in the fall of 2008.

Kamakura's index had reached a recent peak of 22.25% in January,2009. Credit conditions at the end of March were better thancredit conditions in 98.08% of the months since the index'sinitiation in January 1990.

The average index value since January 1990 is 12.56%.

The all-time high in the index was 27.41%, recorded on Oct. 31,2001. To follow the troubled company index and other riskcommentary by Kamakura on a daily basis, seewww.twitter.com/dvandeventer and www.twitter.com/KamakuraCo. Fora detailed comparison of Versions 5.0 and 4.1 of the index, pleasesee this recent blog entry:

In March, the percentage of the global corporate universe withdefault probabilities between 1% and 5% was 4.45%, a decrease of39 basis points. The percentage of companies with defaultprobabilities between 5% and 10% was 0.74%, a decrease of 7 basispoints. The percentage of the universe with default probabilitiesbetween 10 and 20% was 0.21% of the universe, down 7 basis points,while the percentage of companies with default probabilities over20% was 0.07% of the total universe in March, a decrease of 1basis point.

Martin Zorn, Chief Administrative Officer for KamakuraCorporation, said Wednesday, "Among the 2,116 firms in the KRIScorporate universe with legacy ratings, only 14 firms showedincreases in 1 month annualized default risk of more than 60 basispoints with 8 of them being Japanese companies. There were threefirms headquartered in the United States and all were in thetransportation sector with two being in the marine transportsegment. These results continue to reflect the fact that thebalance sheets of most corporations remain strong and problemsituations have tended to be firm specific or tied to specificglobal events."

Founded in 1990, Honolulu-based Kamakura Corporation is a leadingprovider of risk management information, processing and software.Kamakura has taken Credit Technology Innovation Awards from CreditMagazine each year since 2008. In 2010, Kamakura was the onlyvendor to win 2 innovation awards, one each with distributionpartners Fiserv and Thomson Reuters. Kamakura, along with itsdistributor Fiserv, was ranked number one in asset and liabilitymanagement analysis and liquidity risk analysis in the RISKTechnology Rankings in 2009. Kamakura Risk Manager, first soldcommercially in 1993 and now in version 7.2, was also named in thetop five for market risk assessment, Basel II capitalcalculations, and for "risk dashboard." Kamakura was also rankedin the RISK Technology Rankings 2008 as one of the world's top 3risk information providers for its KRIS default probabilityservice. The KRIS public firm default service was launched in2002, and the KRIS sovereign default service, the world's first,was launched in 2008. KRIS default probabilities are displayedfor 4000 corporates and sovereigns via the Reuters 3000 Xtraservice and the Thomson Reuters Eikon service. Kamakura has servedmore than 200 clients ranging in size from $3 billion in assets to$1.6 trillion in assets. Kamakura's risk management products arecurrently used in 33 countries, including the United States,Canada, Germany, the Netherlands, France, Austria, Switzerland,the United Kingdom, Russia, the Ukraine, Eastern Europe, theMiddle East, Africa, South America, Australia, Japan, China, Koreaand many other countries in Asia.

* Jones Day Adds Kirkland Product Liability Partner---------------------------------------------------Bankruptcy Law360 reports that Jones Day announced Wednesday thatit snagged experienced product liability and mass tort attorneyElli Leibenstein, who was previously a partner with Kirkland &Ellis LLP, to join its Chicago office as a litigation partner.

* Berman Named President of the American Bankruptcy Institute-------------------------------------------------------------Development Specialists, Inc., announced on April 6, 2011, thatsenior manager Geoffrey L. Berman was installed last Saturday asPresident of the American Bankruptcy Institute. The AmericanBankruptcy Institute is the largest multi-disciplinary, non-partisan organization dedicated to research and education on allmatters related to insolvency. The ABI was founded in 1982 andcurrently includes over 13,000 members. In fulfillment of itsmission to provide information to its members, journalists,Congress and the public, the ABI is clearly the nation's leadingprovider of quality bankruptcy education programs and practices.Policy-makers on Capitol Hill have long relied on the expertise ofthe ABI in the evaluation of bankruptcy law and efforts to improvethe system.

Mr. Berman has worked extensively with the ABI for 20 years,including serving on the Board of Directors since 2002 and theVice President of Publications from 2007 until last year, and amember of ABI's Executive Committee since 2007. As a true leaderin the industry, Berman has also been a member of the Associationof Insolvency and Restructuring Advisors for 12 years and a memberof the Los Angeles Bankruptcy Forum, Orange County and Bay AreaBankruptcy Forum (California Bankruptcy Forum) for over 30 years.

Mr. Berman draws on over 35 years experience providing financialadvisory services to companies, unsecured creditors, securedlenders and other parties in bankruptcies, restructurings,turnarounds and out of court workouts. Over the past severalyears Berman has also become an accomplished mediator andcurrently serves as a member of the Bankruptcy Mediation Panel,U.S. Bankruptcy Court for the Central District of California andas a member of the Registrar of Mediators, U.S. Bankruptcy Courtfor the District of Delaware. In addition to this thrivingpractice, Berman regularly finds time to speak and publish onmatters of interest to the industry.

About Development Specialists, Inc.

DSI is a leading provider of management and consulting services onbehalf of lending institutions, secured and unsecured creditors,shareholders, bondholders, and business owners. For over 30 years,DSI has been guided by a single objective: Maximizing value forall stakeholders. With our highly skilled and diverse team ofprofessionals, offices throughout the United States and in Europe,and an unparalleled range of experience, DSI not only achievesthat objective, but has also built a solid reputation as anindustry leader. Development Specialists, Inc. offers turnaroundand consulting services including crisis management,receiverships, as well as other fiduciary services. In additionDSI offers forensic accounting and litigation support services.

* KCC Names Michael Frishberg as EVP of Corp. Restructuring-----------------------------------------------------------Kurtzman Carson Consultants LLC, a Computershare company andleading claims and noticing agent, announced on April 7, 2011,that Michael Frishberg, has been promoted to Executive VicePresident (EVP) of Corporate Restructuring Services.

As EVP, Mr. Frishberg oversees the consulting and businessdevelopment groups. He will maintain direct relationships withboth clients and restructuring professionals and build upon KCC'ssuite of service offerings. In his new role, he intends tostrengthen KCC's market leader position, maintain its high qualityof service, and promote the innovative spirit that makes KCCunique.

"Michael has demonstrated exceptional leadership skills as amember of the executive team and has been instrumental in theexpansion of KCC over the past several years," said JonathanCarson, KCC's Managing Director. "We are confident that withMichael in this role, our Corporate Restructuring services willevolve to meet the increasing client demands for efficient, state-of-the-art claims administration services."

Over the last decade, KCC has set the standard for claimsadministration with industry leading technologies and award-winning client service and continuously seeks strategic growthopportunities in the legal and financial services market to betterserve its clients. As a result of its efforts, KCC was retained in40 percent of the Top 20 cases retaining a claims and noticingagent in 2010 and is currently retained in 50 percent of thelargest Chapter 11 cases filed thus far in 2011, including SeahawkDrilling, Inc., Ambac Financial Group, Blockbuster, MSR ResortGolf Course, and The Great Atlantic and Pacific Tea Company, amongothers.

* Garden City Group Promotes Greg Haber to National Director------------------------------------------------------------The Garden City Group, Inc., one of the largest claimsadministration firms in the country, announced on April 7, 2011,that Greg Haber has been promoted to national director, businessdevelopment. With this appointment, Mr. Haber, who has extensiveexperience in claims administration and complex legal matters,will be spearheading all of GCG's business development activitiesfor both class action and bankruptcy matters throughout thecountry.

"In the two years that Greg has been with GCG, he has provenhimself to be skilled in developing and managing clientrelationships," said David Isaac, GCG's chief executive officer."With his legal knowledge, understanding of client needs, andhands-on management style, Greg is exactly the kind ofprofessional that a company like GCG needs to help propel it tothe next level."

Having previously served as director of business development atGCG, Haber will use his multi-faceted skill set and unmatchedcapabilities in the areas of client service and businessdevelopment to oversee the company's continued growth on anational level.

"I am excited about my new role at GCG. Our company is arecognized leader within the legal services arena and I intend tocontinue my hands-on approach to business development and clientservice while supporting the GCG sales teams," said Haber.

Mr. Haber received his juris doctor from the Benjamin N. CardozoSchool of Law and his undergraduate degree from YeshivaUniversity.

* Lehman Examiner Testifies at Senate Hearing on Auditors Role--------------------------------------------------------------Jenner & Block Chairman Anton R. Valukas testified on April 6,2011, before the U.S. Senate Subcommittee on Securities,Insurance, and Investment at a hearing titled, "The Role of theAccounting Profession in Preventing Another Financial Crisis."

Mr. Valukas, the court-appointed Examiner in the Lehman Brothers,Inc. bankruptcy proceedings, shared his experiences and insightsgained in authoring the widely acclaimed Examiner's Report thatwas released in March 2010. The 2,200+ page report, which the NewYork Times called "the definitive account of the largestbankruptcy in American history" and the Wall Street Journaldescribed as a "master work," is available athttp://lehmanreport.jenner.com.

Mr. Valukas, a former United States Attorney for the NorthernDistrict of Illinois, focuses on major civil and white collarcriminal litigation and his clients include some of the largestcorporations and public entities in the country. He is a Fellow ofthe American College of Trial Lawyers and is also a graduate ofNorthwestern University School of Law. His full bio is availableat http://www.jenner.com/avalukas

Corporate Turnaround offers, claims the author, a "four-prongedapproach" to taking the "mystery out of turnaround management."One of the prongs -- Mr. Biebeault's personal experiences -- iscomplemented with another prong -- interviews with sixteen topturnaround specialists. Together, they bring forth the drama andthe stakes of turnarounds. The other two prongs -- surveys ofeighty-one corporate presidents and the author's exhaustiveresearch (400 references in all, taken from books, periodicals,and scholarly writings) -- lend a great deal of substance andauthority to the book's subject matter. This variety of materialgreatly enriches the book, which is perhaps more relevant todaythan it was in 1982 when it was first published.

Identifying the underlying causes for failure can be a futilechicken-and-egg pursuit. "Businesses decline for bothuncontrollable external reasons and for controllable internalreasons," says Mr. Bibeault. Nonetheless, Mr. Bibeault adds that"[i]n most cases . . . business problems are internallygenerated." As one of his sources explains, managing a company islike piloting a ship. "If the ship is in good condition and thecaptain is competent, it is almost impossible for it to be sunk bya wave or a succession of waves." A competent captain with a shipin good condition can even bring it through a storm.

The manager of a company is different from the captain of a ship,however, in that the manager not only has to pilot the company,but is also responsible for its condition. The central challengefor a manager is to ensure that the company is structurally solid,operationally relevant, efficient, and adaptable to be able toweather any conditions the company might encounter. Even though,as Bibeault maintains, in practically all cases business problemsare internally generated, this does not rule out having to heedexternal conditions. External economic, political, or marketconditions expose and exacerbate a company's internal weaknesses."Management is not always able to deal with outside forces, evenwhen they can see them gathering." A manager can be effective,however, in "getting a company into a posture, both from amarketing and financial point of view, where it can resist normalbusiness hazards and other more serious external challenges." Insuch circumstances, a turnaround may be a company's only hope forsurvival, and the abilities of a turnaround manager are required.

Bibeault describes such managers as "the George Pattons of thebusiness world." "They don't have a lot of friends, they're notsocial successes, they're just known as blood-and-guts guys," isthe way one corporate executive puts it; a description repeated indifferent words by other experienced businesspersons Bibeaultconsulted.

In Corporate Turnaround, Bibeault explores every facet of aturnaround. The causes of a company's decline are followed with athorough consideration of the management basics in effecting aturnaround. The book also examines the attributes of theturnaround manager and offers specific pragmatic steps for gettingon the path to recovery. Lastly, Corporate Turnaround offers anoverall strategy. The book is not only informative about thecrucial subject of corporate turnaround, but also a manual formanaging one.

Bibeault has worked on turnarounds of distressed companies forover 25 years in addition to holding top executive positions in anumber of corporations. He also holds advisory or governing boardpositions with different universities and business groups.

*********

Monday's edition of the TCR delivers a list of indicative pricesfor bond issues that reportedly trade well below par. Prices areobtained by TCR editors from a variety of outside sources duringthe prior week we think are reliable. Those sources may not,however, be complete or accurate. The Monday Bond Pricing tableis compiled on the Friday prior to publication. Prices reportedare not intended to reflect actual trades. Prices for actualtrades are probably different. Our objective is to shareinformation, not make markets in publicly traded securities.Nothing in the TCR constitutes an offer or solicitation to buy orsell any security of any kind. It is likely that some entityaffiliated with a TCR editor holds some position in the issuers"public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies withinsolvent balance sheets whose shares trade higher than $3 pershare in public markets. At first glance, this list may look likethe definitive compilation of stocks that are ideal to sell short.Don't be fooled. Assets, for example, reported at historical costnet of depreciation may understate the true value of a firm'sassets. A company may establish reserves on its balance sheet forliabilities that may never materialize. The prices at whichequity securities trade in public market are determined by morethan a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in eachWednesday's edition of the TCR. Submissions about insolvency-related conferences are encouraged. Send announcements toconferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filedChapter 11 cases involving less than $1,000,000 in assets andliabilities delivered to nation's bankruptcy courts. The listincludes links to freely downloadable images of these small-dollarpetitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book ofinterest to troubled company professionals. All titles areavailable at your local bookstore or through Amazon.com. Go tohttp://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday editionof the TCR.

The Sunday TCR delivers securitization rating news from the weekthen-ending.

For copies of court documents filed in the District of Delaware,please contact Vito at Parcels, Inc., at 302-658-9911. Forbankruptcy documents filed in cases pending outside the Districtof Delaware, contact Ken Troubh at Nationwide Research &Consulting at 207/791-2852.

This material is copyrighted and any commercial use, resale orpublication in any form (including e-mail forwarding, electronicre-mailing and photocopying) is strictly prohibited without priorwritten permission of the publishers. Information containedherein is obtained from sources believed to be reliable, but isnot guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-mail. Additional e-mail subscriptions for members of the samefirm for the term of the initial subscription or balance thereofare $25 each. For subscription information, contact ChristopherBeard at 240/629-3300.